CNBC's Sharon Epperson discusses the day's activity in the commodities markets. Oil was up today, mostly due to manufacturing data and numbers out of China. OPEC nations meet in Vienna on Wednesday.
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Euro zone countries pledged in July to obtain parliamentary approval for key Stability Fund powers. It's taking a dangerously long time for the markets.
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A positive start to earnings season, including blowout results from Apple, is helping investors shake off worries and start buying the dips. On tap for Wednesday: UTX, AmEx, Intel and eBay.
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Traders will be tuned in to Bernanke's Senate testimony Wednesday to see what he says about the economy and any new stimulus measures. Don't get too excited about a QE3, one economist said — that was just the Fed thinking out loud.
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The Institute for Supply Management's non-manufacturing survey is the data to watch Wednesday, but the post-holiday stock market doldrums could prevail if the report on the services sector is as expected.
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With many investors still in their bunkers, bulls are emerging to duke it out with bears for control of a stock market that still feels a bit bumpy.
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Stocks could continue to trade sluggishly Wednesday, but traders are watching the durable goods orders report expected tomorrow as a potential source of volatility.
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"We were deeply oversold and we got the bounce. Now I think we have resistance overhead in the 12,600, 12,700 area on the Dow," says one technical analyst.
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