Good morning. Economic data--Fed speakers--and the debate over the U.S. dollar will be our focus for most of today. All this comes on the heels of Monday's losses in stocks. We saw the biggest one day decline on the Dow since July and the worst day on the Nasdaq since June. Among yesterday's losers: financial stocks-techs and auto saw profit taking.
The debate over the decline of the dollar centers on the U.S. economy. Is it a soft or hard landing?
It's a day of Fed speak--as Fed Chairman Ben Bernanke speaks at the National Italian American Federation-we'll air his comments live at 12:30 pm ET on Power Lunch. We'll have full coverage of Bernanke.
Former chairman Alan Greenspan speaks at a separate New York luncheon--at almost the same time. We'll have his comments.
The U.S. housing market is also on our list today. CNBC's Diana Olick will walk us through today's housing numbers. Existing home sales numbers are due out this morning. So are durable goods figures.Our quote of the day comes from Marshall Field--"Goodwill is the only asset that competition cannot undersell or destroy." Wonder if the housing market is taking note.