Markets appeared poised to extend yesterday’s gains as futures traded higher before the open. Stock had a choppy session yesterday, but finished with a late-day rally.
Fed Chairman Ben Bernanke returns to the spotlight today, testifying before the House Budget Committee regarding economic and financial conditions. He also speaks at a separate forum in the afternoon. He will likely reiterate his comments from Monday that the economy is improving, but progress will be slow.
The Fed is also set to release its beige book report in the afternoon. The report provides a snapshot of regional economic activity. A separate report is expected to show wholesale inventories rose for the fourth straight month in April.
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