July 30 - With the Dow still clinging to the magic 13,000 mark, investors are being way too optimistic ahead of the Fed meeting, according to Reuters Breakingviews Agnes Crane.
Well it's deja Vu all over again stocks holding onto a rally ahead of the Fed meeting the -- clinging to its magic thirteen thousand level. It'll be another 48 hours before investors find out whether chairman Ben Bernanke will act swiftly to prop up the ailing economy so far we could see more of a game of -- an actual concrete action. Expect the subtle change to policy language as opposed to decide that bond buying. British breaking news columnist Agnes crane says markets are over reaching right now. This is almost the definition of insanity. Doing the same thing over and over again expecting different results this is what we're seeing from financial targets in some ways they're getting excited Federal Reserve is gonna come to the rescue. And again they have less tools available now they did three years ago. I think you know at the end of the day in financial markets are going to be disappointed once again with the Federal Reserve is able to honor. In the meantime corporate America is looking more schizophrenic as we get deeper into earnings season. The number of companies topping estimates is above the long term average. But -- beating revenue projection is way way below possibly the worst in three years to blame when you're out and a stronger dollar and we'll see if this trend continues Tuesday before the bell and that coach good ear bite their Thomson Reuters and United States DL. After the close its Allstate and electronic arts. That ahead we're taking you back to 2009. Who. -- green shoots well I have Faris says we could see some of that any housing with the release of the S&P Case Shiller Index in the morning. Expect to see home prices rise for a fourth month in a row. Here I mean we could see its strongest reading in about two years -- the recovery record low mortgage rates foreclosures hitting -- -- And decline in the number of properties up for sale. We could get more comments from Treasury Secretary Timothy Geithner on the European debt crisis he is our top talking head. Literally giving his take on the economy in LA after a series of whirlwind meetings in Europe. With German French and ECB officials so our diner sounds optimistic saying he's confident the eurozone can stabilize. And stay with insider and writers throughout the week for more expert analysis and reaction to that fed meeting you can't catch insider on Twitter at writers and tighter and check out our border -- YouTube channel. At Reuters dot com slash writers TV. I'm a mom this is greater.