Immediate market reactions.
The possibility of quick and drastic market reactions amplify the importance of Bernanke's speech, and investors are watching intently for any positive signs from Friday's speech. Pride doesn't think that markets will show a "big disappointment" if Bernanke doesn't hint at further monetary easing, but he believes that uncertainty in what exactly Bernanke will say could be a shock to stock markets in either direction. "Depending on the outcome, it's an upside or downside surprise. The market hasn't fully counted it going one way or the other yet," he says.
Corrected on 08/25/11: An earlier version of this article misstated the title for Jason Pride. He is director of investment strategy.