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E-Mini S&P 500: A quiet day ahead of the Fed!
The E-Mini S&P 500 post-holiday exhilaration seemed to fizzle even as New Home Sales rose 11.1 percent today! We were at an annual rate of 300,000 while February had been at a low of 270,000. Inflation is still playing havoc with the marketplace! Crude Oil prices hit a high of $113.48 having investors feel that the inflation fears will continue. This cost of doing business hurts some major companies such as Kimberly-Clark as they make Kleenex Tissues and Huggies Disposable Diapers. These products are made with oil and with the high cost of oil their earnings projections are down. Kimberly- Clark fell 2.7 percent to $64.24. The earthquake in Japan also affected production in the auto making industry.
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