US equity markets stabilized today on better than expected economic news and bullish comments from the Fed

US equity markets stabilized today on better than expected economic news and bullish comments from the Fed. First off, jobless claims dropped to 264,000, their lowest level in 14 years and well below expectations. That's also a robust 23,000 decline from the previous week. Additionally, the 4-week moving average dropped to 283,500 - another encouraging sign. Perhaps more importantly, St. Louis Fed President Bullard said the Fed should consider delaying the end of QE (bond buying), supposed to wrap up this month. Bullard says inflation expectations are declining and the Fed needs to take that into account. Given Yellen's history, I wouldn't be surprised if in fact QE is extended. The upcoming Fed meeting is certainly going to be closely watched by the market. (VIEW LINK)