Patti Domm is CNBC executive news editor, responsible for news coverage of the markets and economy. Prior to joining CNBC in 1999 as senior news editor, Domm was the equities editor for the Americas at Reuters. She was also Wall Street editor at Reuters, reporting on mergers, acquisitions and the Street. She also edited three CNBC books on personal investing. Domm serves on the board of the Financial Womens Association of New York.
Bernanke bounce or an Obama tumble? That was the question on the minds of traders about markets Wednesday, another day in which Fed Chairman Ben Bernanke testifies before a Congressional committee and after President Obama's Tuesday night speech on the state of the nation.
The action Thursday is again in Washington. There are several key economic reports early in the day, but traders will also focus on the progress of the economic stimulus package and look for any new details on Treasury Secretary Timothy Geithner's financial bailout plan.
Bankers will be in the hot seat Wednesday. But the markets could focus again on whether there's a credible plan in the works to rescue the banking system, after the disappointing lack of details in the plan unveiled by Treasury Secretary Timothy Geithner.
Stocks slumped, bond yields fell and the dollar waffled on jitters that growth is even more sluggish than feared.
Traders shifted some bets that Friday's jobs report will not be as strong as expected after ADP's report disappointed.
Names on the move ahead of the open.
The ADP jobs report and a key manufacturing survey may show the lingering impact of winter weather that snuffed out first-quarter growth.
Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.
A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.
CNBC's Senior Personal Finance Correspondent
JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC
Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.
Senior Producer at CNBC's Breaking News Desk.