Stocks surged yesterday, with the S&P 500 rising more than 7% after the better-than-expected home sales report and after the announcement of the White House’s latest plan to clean up bank balance sheets. As expected after such a large rally, U.S. stocks appear set for a breather this morning with futures pointing to a lower open.
There is no major economic data scheduled for release today, but investors will be awaiting comments from Federal Reserve Ben Bernanke and Treasury Secretary Tim Geithner, both of whom are due to testify about the government's intervention at American International Group later in the day. In other news related to AIG, it is being reported that 15 of the 20 top executives who received bonuses have agreed to return them, accounting for more than $30 million of the $165 million paid by the giant insurer.
- Harrington Wealth Management
- Our firm provides comprehensive trust and investment management services by employing a customized asset allocation approach. By focusing on the individuality of each client, Harrington Wealth Management Company has helped high net worth individuals, families, and small institutions grow and sustain their wealth through proven investment practices since 1994. A fee-only advisor, we also offer other financial services from our offices in California, Kansas and Indiana that include custody, estates, land trusts, probate administration, guardianships, personal trust administration, retirement plan services, and investment consulting services.
