Article sponsored by the Dr. Stoxx Options Letter
It's a busy week for the U.S. Markets as traders and investors digest last week's European developments and this week's economic reports from the home front. Here is a list of what market mavens are paying attention to:
1. Shares of Apple, Inc., (AAPL) closed at an alltime record high yesterday of $133, pushing its market cap up to $775 billion, after the company announced plans to invest $2 billion in two green-energy powered data centers in Europe. Goldman Sachs upped its share price forecast from $130 to $145, saying there is more room to the upside than previously thought given recent data points coming from the company.
2. Greece submitted a 6-page document on Monday containing a list of promised austerity measures aimed at winning the debt-burdened nation another 4 months of bailout from Brussels. The list includes the promise not to roll back any ongoing or completed privatizations, compromises on major issues such as labor reforms and social spending, and a delay in the planned hike of its minimum wage.
3. All eyes will be on Fed Chair Janet Yellen as she testifies before Congress on Tuesday at 10am, ET. There is uncertainty over whether she will affirm the dovishly toned minutes from the Fed's last meeting, or open a window on June as the most likely time for a first rate hike. Last month's surprising spike in the non-farms payroll numbers, a new data point the FOMC did not have before them at their last meeting, may play a role in what is said. "Given the growing evidence that the backdrop can more than withstand what will amount to a modest increase in the policy rate, we find it hard to imagine Yellen will promote the 'lower for longer' mantra that was espoused in the minutes," RBCM chief U.S. economist, ...