This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Live Blog: Wall Street Parses Bernanke

NEW YORK ( TheStreet) -- We're about to see just what Wall Street makes of Ben Bernanke's speech.

The long awaited speech from the Federal Reserve Chairman will take place at 10 a.m. this morning from Jackson Hole, Wyoming. Investors and economists have been speculating all week about what he'll say. Opinions run the gamut from hinting at further quantitative easing to laying out the Fed's remaining options. Some say that they aren't expecting Bernanke to say much at all about how the Fed will address the economy.

On the surface, it seems that the selloff in equities yesterday snapping a three day win streak indicated that investors had slashed their hopes for this morning's speech. However, with volatility running high, it's difficult to say what the market is pricing in ahead of Bernanke.

Most strategists are expecting a knee jerk reaction to Bernanke's speech, as what often happens in reaction to these types of big events. This morning's dismal GDP figure was a reminder that the possibility of a recession is still alive. Futures didn't react much, however, as the market had anticipated that second quarter GDP grew at about 1%.

At this point, we can't rule out any of these three possibilities: Stocks could move up if Bernanke's speech is reassuring. Stocks could drop if Bernanke's speech reiterates what the Federal Reserve had already said and stops short of indicating that the Fed is prepared to act. And of course, investors could interpret Bernanke's words to be what they were expecting all along, in which case any gains or losses would be quickly wiped away over the weekend and the market will open on Monday at pre-speech levels.

-- Written by Chao Deng in New York.

>To contact the writer of this article, click here: Chao Deng.

>To follow the writer on Twitter, go to: @chao_deng

>To submit a news tip, send an email to:

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs