U.S. stocks are trading higher as investors anxiously await this Friday’s speech from Federal Reserve Chairman Ben Bernanke. Bernanke’s speech at the Fed’s annual symposium in Jackson Hole, Wyoming may signal whether or not the Fed is open to implementing a third round of quantitative easing (QE3). At present, a majority of economists believe the Fed Chairman may refrain from tipping his hand ahead of August’s non-farm payrolls report due out on September 7th. Technology shares moved higher after Apple (AAPL, +2.2%) won a massive patent lawsuit against South Korea-based Samsung Electronics (SSNLF). Meanwhile, a German business confidence index fell for a fourth straight month as Europe’s debt crisis continues to curb growth. In overnight trading, China’s Shanghai Composite sank 1.7% to a fresh three-year low. Treasury prices continue to edge higher, pressuring the yield on the benchmark 10-year Treasury note to weaken to 1.649%. Gold is up $0.65 to $1,671.20/oz., while Nymex Crude oil fell $1.03 to $95.12/bbl.
Today’s Market Action
