Bernanke press conference will be one for history books – and traders. Earnings will also be released from the likes of Boeing, BP, Starbucks, and Moody's.
The Fed extravaganza in focus, accompanied by an entourage of earnings. Ford, previewed yesterday, set the pace with its best 1st quarter in 13 years. Can Boeing and Conoco-Philips keep up the momentum? In total, a tradable treasure trove Wednesday. Here's what we're watching…
1. Meet the Fed: That's a great YouTube video waiting to happen (to the tune of "Meet the Mets"). Can someone make that happen? Regardless, the Fed will follow the release of an earlied-up 12:30pm ET policy statement with Chairman Ben Bernanke's 2:15pm ET news conference, a watershed moment of transparency for our central bank. The question remains: why? Has Congressional scrutiny gotten so bad the Fed feels extreme measures are necessary to ensure its independence? Whatever the motivation, markets will be glued to Bernanke's every word.
2. Boeing Navigates Turbulence: A 787-program plagued by delays, the Southwest 737 riddled with cracks, and a bearish outlook for defense spending. Boeing has a cabin full of challenges, and we'll learn more about the bottomline impact when the company reports numbers before the market open. Analysts expect the Boeing to report earnings per share of 71 cents. At least they won the never-ending tanker contract, right? More to the point, shares in the aerospace company are up sharply year-to-date.