The Federal Reserve cut interest rates by a half of point today in the Fed funds rate and the Discount rate, October 29th, 2008. The Market is going down on this news.
http://daytradingstockblog.blogspot.com/
Showing posts with label fed interest rate cut. Show all posts
Showing posts with label fed interest rate cut. Show all posts
Wednesday, October 29, 2008
Art Cashin CNBC 10/29/08 - Bottom Call, Yen Comments
Art Cashin was on CNBC 10/29/09 and he had these comments to say:
Tuesday the Yen skyrocketed and you had the g7 intervention which crushed the carry trade, we then had selling everywhere.
When the Yen eased it started a rally, everyone waited to see if the last hour sellers would show up, they didn't show, it sparked a huge rally.
This afternoon, a 50 point rate cut is priced into the market and we are hoping to hear the credit markets are easing from the Federal Reserve. If we get a .25 cut, you would see a sell off....but then again the market might say, wait a minute, things might not be so bad if they only cut .25 and they might rally it.
Monday we retested the lows and rallied Tuesday....this rally might actually have legs and you might be able to start buying the dips, we'll have to wait and see.
I think this bottom is a temporary bottom, not the final bottom, but we might rally into the end of the year but in 2009 we should get the real bottom.
http://daytradingstockblog.blogspot.com/
Tuesday the Yen skyrocketed and you had the g7 intervention which crushed the carry trade, we then had selling everywhere.
When the Yen eased it started a rally, everyone waited to see if the last hour sellers would show up, they didn't show, it sparked a huge rally.
This afternoon, a 50 point rate cut is priced into the market and we are hoping to hear the credit markets are easing from the Federal Reserve. If we get a .25 cut, you would see a sell off....but then again the market might say, wait a minute, things might not be so bad if they only cut .25 and they might rally it.
Monday we retested the lows and rallied Tuesday....this rally might actually have legs and you might be able to start buying the dips, we'll have to wait and see.
I think this bottom is a temporary bottom, not the final bottom, but we might rally into the end of the year but in 2009 we should get the real bottom.
http://daytradingstockblog.blogspot.com/
Tuesday, October 28, 2008
Dow Jones Open 10/28/08 - Stock Market Update
This morning, 10/28/08, the Dow Jones Industrial Average ( DJIA ) opened just north of 8300 and has extended its gains toward 8500. This happened after last nights Asian Market surge lifting the futures markets up. The Dow Jones is currently at 8442 up 266
General Motors ( GM ) is up 9% to $5.95 and ExxonMobile ( XOM ) is up nearly 5% to $69.50. These two stocks are big Dow Jones components.
Keep in mind, we have a Fed Meeting today and I expect them to cut by a half of a point.
WOW....as I am writing, consumer confidence is 38.0 in October compared to 61.4 in September. This number has hit the stock market slightly but it appears we are going back up. That is one ugly number! Healthsouth ( HLS ) appears to be the biggest gainer and the hottest stock today after the company came out and reaffirmed earnings guidance.
I will continue to watch the QQQQ to see if it can break $30.25 today....this would be very bullish for the Nasdaq.
http://daytradingstockblog.blogspot.com/
General Motors ( GM ) is up 9% to $5.95 and ExxonMobile ( XOM ) is up nearly 5% to $69.50. These two stocks are big Dow Jones components.
Keep in mind, we have a Fed Meeting today and I expect them to cut by a half of a point.
WOW....as I am writing, consumer confidence is 38.0 in October compared to 61.4 in September. This number has hit the stock market slightly but it appears we are going back up. That is one ugly number! Healthsouth ( HLS ) appears to be the biggest gainer and the hottest stock today after the company came out and reaffirmed earnings guidance.
I will continue to watch the QQQQ to see if it can break $30.25 today....this would be very bullish for the Nasdaq.
http://daytradingstockblog.blogspot.com/
Tuesday, September 16, 2008
No Rate Cut 9/16 - Fed Doesn't cut Interest Rates 9/16/08
Today the Fed left interest rates at 2.0% by not cutting rates. The Market is going down because of this news. The Dow has fallen 100 points because of this news as many people expected a rate cut today. The Dow is 10,819 - Nasdaq 2157 - S&P 1178
AIG Stock Down in Pre Market - CNBC 9/16/08
Governor Patterson was on CNBC this morning and he said " I think AIG has only a day." AIG hit a low in Pre Market this morning of $2.81 per share. It is now bouncing to around $3.45 as stock market futures improve a bit.
All eyes are on the Fed decision at 2:15pm this afternoon....and just as I right this, the FED has just injected 90 Billion of liquidity into the market.
AIG was scheduled to again have meetings at the New York Fed....so all eyes will be glued to this situation.
All eyes are on the Fed decision at 2:15pm this afternoon....and just as I right this, the FED has just injected 90 Billion of liquidity into the market.
AIG was scheduled to again have meetings at the New York Fed....so all eyes will be glued to this situation.
Monday, September 15, 2008
Fed Meeting 9/16/08 2:15pm EST - Federal Reserve Meeting
Tommorrow we have a big Federal Reserve meeting at 2:15 Eastern Time in which we will find out if Ben Bernanke will cut interest rates.
A rate cut would be fine.....but the Fed will have to provide capital if they want to stop this stock market slide. Personally, I'd like the Capital Markets to sort this out themselves, but with that everything get sucked down with it.
If JPM and GS don't provide AIG 70-75 Billion in lending.....AIG could go down Bankruptcy Road this week. That is a alot of money! Where will it come from?
How about the Internet Stocks today - Amazon.com and Google.com holding up well today! GOOG and AMZN showed major strength!
A rate cut would be fine.....but the Fed will have to provide capital if they want to stop this stock market slide. Personally, I'd like the Capital Markets to sort this out themselves, but with that everything get sucked down with it.
If JPM and GS don't provide AIG 70-75 Billion in lending.....AIG could go down Bankruptcy Road this week. That is a alot of money! Where will it come from?
How about the Internet Stocks today - Amazon.com and Google.com holding up well today! GOOG and AMZN showed major strength!
USO Opinion - Oil Stocks 9/15/08
The USO, which is the United States Oil Fund, is getting crushed today as Oil nears $95 dollars a barrel. The current price of the USO is at $76.50. Having strong support around the $75-$77 level....this could be a great opportunity to step into the oil trade and buy some USO. The Fed looks like they will cut interest rates tomorrow as well.
Just something to think about.....
Just something to think about.....
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