Sep 14 - The S&P 500 is testing all-time highs, but dollar funds point to traders reallocating cash back into battered bonds. Also Fed speakers could offer more clues about the size of QE3.
Hi how Long Will that -- Stocks are surging after Ben Bernanke said he would keep pumping more cash into the economy until unemployment falls. Yes and he is just 6% below its all time closing high of fifty to 65. Despite tepid recovery. But there are signs we could be informed reefs off. From funds making bullish bets on the strength of the dollar. Traders are telling Reuters watch out for some profit taking as -- re allocated into the battered bonds. There's speculation this round that action but it one point seven trillion dollars just less than QE1. And marks -- -- confirmed that -- policy makers take the podium. There are not fed speakers in the week including Jeffrey -- of the Richmond -- on Tuesday. The latest policy meeting he voted against more stimulus and he oppose putting it date on when the Fed would raise rates. And that is likely to concentrate on the health of manufacturing this week with a bunch of regional surveys out. Pay attention at Thursday's market PMI data and it. It's set to rise but. I'd much focus to be on auto assembly that's all big drop in August and -- -- know there are signs of a rebound. Here's one key economic indicator you can't ignore. Earnings from FedEx on Tuesday the world's second largest package delivery company is a barometer for business and consumer spending. It's set to report a sliver bottom line do the global downturn. That is cut the man -- overnight shipping -- won't wanna hear how -- were structured to handle the changes. We get a key update on the health of tech what oracle comes out with results on Thursday. The world's number three softer makers like what is he fatter profits says manages rushed to spend their hiking by just before year end. Still don't expect companies billionaire boss Larry Ellison to get an easy ride -- just we organize its sales force in the US its biggest market. Analysts here that may have hurt it's revenue. Stay with Reuters TV and insider from -- expert analysis on the big market movers. Check out Reuters YouTube that Reuters dot com slash Reuters TV. And falls on Twitter at Reuters Insider. I'm Fred Katayama this is Reuters.