S&P 500 Looks to Open Higher

Thanks to the resolution, or apparent resolution, of the debt ceiling debate, the market looks to open higher this morning. The futures market indicates that the S&P 500 will open more than 1% higher today. I would expect that financial stocks will do especially well. Of course, we’re only gaining what we recently lost.

I’ll be very curious to see what the ISM report for July has to say. The last few reports haven’t been encouraging. The report is due out at 10 am.

Interestingly, I just noticed that the joint venture between Warren Buffett’s Berkshire Hathaway and Leucadia National ($LUK) is in the market for an acquisition. As they say, buy when others are fearful.

Posted by on August 1st, 2011 at 8:57 am


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