By InTheMoneyStocks on May 19th, 2010 3:21pm Eastern Time
Today has been one heck of a volatile trading day. This type of action is common during the week of options expiration. Let us not forget that this market is in the eye of the storm as the European debt crisis is still front and center.
The Currencyshares Euro Trust (NYSE:FXE) looks to be bouncing today after making new lows for the year yesterday. The U.S. Dollar Index has declined sharply today trading lower by $0.79 cents to $86.37. The dollar chart is just the opposite of the Euro as it traded to new highs last night.
Some stocks that are catching a bid in this market are United States Steel Corp (NYSE:X), Monsanto Co (NYSE:MON), and Deere & Co (NYSE:DE). These are the standout stocks as most other leading names are still down on the session.
Financial regulation is also one of the hot topics that is being debated by the politicians today. The details for this bill are still unclear. However, many traders believe that the bank regulations will not be as severe as originally expected. However, 'Super Tuesday' was yesterday and many politicians have to be wondering if they can play the same old games.
There is a lot of action going in the Wild West today. Stay tuned and keep watching that U.S. Dollar Index Chart as the dollar will usually help inflate the markets when it declines and deflate the markets when it rises.
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