Trading The Fed Beige Book

The Fed's Beige book is being released at 2:00 today, and the Beige Book is important as it provides anecdotal evidence from the twelve Federal Reserve districts on current economic conditions. If the Beige Book shows that the economy is continuing to pick up steam in the 12 different regions, then manufacturing and services stocks should see a little boost, depending upon what each district has to say. Names like Caterpillar CAT, Cummins CMI, Deere & Co. DE, 3M MMM and Boeing BA should continue to see a little boost if the Beige Book continues to show strong manufacturing growth. Shares of CAT are down 38 cents to $93.57, Cummins is up 48 cents to $112.00, Deere is up $1.77 per share to $87.43, 3M is up 81 cents to $88.55 and Boeing is up $1.31 to $70.27.