Since Monday the benchmark S&P 500 has tumbled 0.56% but with fresh data on housing, growth, manufacturing, and consumer sentiment all before Noon, the trend could reverse course quickly. 90 minutes before the open, Dow futures are down 4 points to 10,312 and S&P 500 futures are trading 0.20 points higher at 1,102.50. In recent FedSpeak, St. Louis Fed president James Bullard said inflation is a medium-term risk that will be watched closely. He said rising expectations would be “a major concern” to the recovery which is otherwise “not completely established” but “reasonably good.” Meantime, Fed Governor Elizabeth Duke called lending conditions “strained,” adding that a full recovery in the banking system will take time. Key Events Today...(read more)

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