Wednesday, October 1, 2014
Inquirer Daily News

Markets want to know what Ben will do

Maybe it's the absence of major economic news, but once again there's much anticipation about what Fed chairman Ben Bernanke will say in a speech in Wyoming.

Markets want to know what Ben will do

Markets are rallying and you can pick your reason why with the best of any so-called expert.

But could it be that investors are following the adage to buy on the rumor and sell on the news? The rumor is that Fed chairman Ben Bernanke will use his speech in Jackson Hole, Wyo., on Friday to sketch out what the central bank might do to save the financial world from itself again.

However, that's not what those who follow the Fed closely believe will happen. So where does that leave us? Can Bernanke's speech meet the expectations being set for it?

In other news, Philadelphia agricultural chemical maker FMC has signed two agreements with Denmark's Chr. Hansen to commercialize based on Hansen's technology. Terms weren't disclosed.

Merck & Co. named a new president for its Merck Animal Health business unit. As of Sept. 15, Richard DeLuca will succeed Raul Kohan, who is retiring. A Widener University grad, DeLuca, 48, is a former president of Wyeth's Fort Dodge Animal Health division.

Mike Armstrong Inquirer Columnist
About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

Mike Armstrong Inquirer Columnist
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