Traders Weigh Ben Bernanke's Comments
Comments made over the weekend by Federal Reserve Chairman Ben Bernanke, indicating that the central bank could end up pumping even more money into the economy, are still top of mind for the "Fast Money" traders on Monday.
During an televised interview with "60 Minutes" on Sunday, Bernanke said the Fed could buy more than the $600 billion in U.S. government bonds it has committed to purchase if the economy fails to respond or unemployment stays too high. Guy Adami, managing partner of Drakon Capital, said it will be interesting to see how the market trades Bernanke's commentary.
Joe Terranova, chief market strategist of Virtus Investment Partners, is watching how the treasurys trade off of Bernanke's remarks. Treasury prices climbed in early trading Monday.
Meanwhile, Brian Kelly of Kanundum Capital is watching coal. Kelly noted that over the weekend, Rio Tinto reportedly offered $3.5 billion for Australia's Riversdale Mining, which tells him the coal trade is far from over.
“The problem is all these stocks have run up” on acquisition news, said Kelly, adding that there still may be some upside to the coal trade.
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CNBC.com with wires, including Reuters