Stocks Range-Bound Ahead of Elections and QE2
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After zooming higher at the open, stocks have settled into a tight trading range mid-day as investors wait for two important events - Elections on Tuesday and QE2 on Wednesday.
At 1:20PM ET, the Dow is up 47 points, the Nasdaq is up 1 and the S&P 500 is up 4.
Many expect large Republican gains in the House and the Senate, possibly gaining control of both chambers of Congress. Republicans need to gain 39 net seats in the House to gain control and 10 in the Senate.
Following a two-day meeting, on Wednesday the Federal Reserve is expected to announce measures for additional quantitative easing, or QE2 as it is being called. Recent reports from the Wall Street Journal suggested the program will involve gradual buying of bonds worth a few hundred billion dollars over several months.
At 1:20PM ET, the Dow is up 47 points, the Nasdaq is up 1 and the S&P 500 is up 4.
Many expect large Republican gains in the House and the Senate, possibly gaining control of both chambers of Congress. Republicans need to gain 39 net seats in the House to gain control and 10 in the Senate.
Following a two-day meeting, on Wednesday the Federal Reserve is expected to announce measures for additional quantitative easing, or QE2 as it is being called. Recent reports from the Wall Street Journal suggested the program will involve gradual buying of bonds worth a few hundred billion dollars over several months.
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