Economic Events on April 28, 2010

The Mortgage Bankers’ purchase index was released at 7:00 AM EDT, and there was a week to week increase of 7.4% last week, which is the second week of gains in a row, and was attributed to the end of the second federal stimulus program and low interest rates.

At 10:30 AM EDT, the weekly Energy Information Administration Petroleum Status Report will be released, giving investors an update after a sharp drop in oil prices yesterday.

At 2:15 PM EDT, the FOMC Meeting Announcement will be made, which will provide insight into how long the Federal Reserve plans to keep rates at 0%.  It is assumed that there will be no immediate change in the Fed funds target rate, but any hint that rates could rise in the futurecould have an impact on the bond market and stock market.

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