It's just hours until the Fed minutes. The central bank's latest meeting notes will be released at 2pm. Outgoing chair Ben Bernanke already shared some of his thoughts in a speech last night. Bernanke reiterated that any plans for tapering the Fed's bond-buying are not on a preset course. But he also made a new revelation: that short-term interest rates could remain near zero even after unemployment falls below 6.5%. Bernanke told the crowd the job market has shown quote “meaningful improvement” since the start of quantitative easing, but called recent job reports “somewhat disappointing.”
J.C. Penney (JCP) stock has surged nearly 8% in early trading despite a dismal earnings miss. The beleaguered retailer lost $181 a share, even wider than the predicted losses of $1.72 a share. Revenues were also slightly below the consensus at $2.78-billion versus $2.80-billion.
Meanwhile home improvement chain Lowe's (LOW) missed estimates. The company made earnings of 47-cents a share for theRead More »from Bernanke Talks Ahead of Minutes Release; J.C. Penney & Lowe’s Miss; Deere Darts Higher