Date: Friday 22 Jun 2012
-Fed (Lacker): Growth cannot offset impediments to growth
-Fed (Bullard): Hurdle to QE3 pretty high
-Kashkari (PIMCO) thinks QE3 likely by end of the year
Dow Jones: 0.45%
Nasdaq Comp.: 0.55%
S&P 500: 0.35%
Wall Street is bouncing back modestly after the punishment inflicted on it yesterday and despite the better tone to trading in periphery debt markets this afternoon.
The situation, nonetheless, is still quite tense and very critical. In this regard remarks from Bill Gross and Neel Kashkari at bond fund manager PIMCO speak volumes in that regard. Thus, the former talks today of central banks´ ever emptier bag of tricks while the latter believes that a third round of quantitative easing, towards year end, is highly likely.
Darden Restarurants is lower following the release of ‘in-line’ quarterly results.
Ryder System, the US truck leasing company, is plummeting 12% after cutting its full-year earnings forecast because of lower demand for commercial rentals.
Worth noting, positive comments from FRB on US banks.
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