Bill Gross CNBC 10/29/08 - Comments on Fed Rate Cut

Bill Gross was on CNBC 10/29/08 giving his comments on the Fed rate cut decision.

I Heard just about what I expected....downside risks to growth remain suggestesting that rates will go lower or stay here for an extended period of time.

I noticed in the Fed Statement that external demand ( meaning exports ) has weakened meaning the whole world has a problem right now.

More on what Bill Gross has said this week HERE

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10/29/08 Fed Rate Cut Decision - FOMC Interest Rate Cut

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.

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General Motors ( GM ) News 10/29/08 - Toyota, Cerberus

The Dow Jones is spiking higher by 85 points this afternoon as Reuters is reporting some General Motors news 10/29/08. CNBC just reported that a Major Issue has been resolved on the Cerberus problem involving Chrysler. General Motors ( GM ) stock is going up by 7.5% today to $6.73.

Also in the news, Toyota Declines GM Proposal For CEO Wagoner Visit Dow Jones is reporting.

For the latest updates on what is moving the Markets, visit, http://daytradingstockblog.blogspot.com/

Trading Las Vegas Sands ( LVS ) 10/29/08? LVS Analysis

Las Vegas Sands ( LVS ) is one of the hottest stocks on the NYSE today and in the over all stock market. MGM Mirage set the tone with their earnings this morning and LVS has been spiking on higher volume off its low from yesterday.

Day Trading Las Vegas Sands ( LVS ) - October 29th, 2008.

As I write this blog, LVS just hit $7.99 up around 60%. There is support around $7.30...and then $6.70. A break below $6.70 would be bearish in my opinion and i'd look to reload at $6. If Las Vegas Sands can close over $8 today, I think it could retest $9 and above at its 10 day moving average.

Be careful though, we are in a volatile bear market so use your stops and be disciplined!

Here is a chart of LVS.

Dow Jones Open - Stock Market 10/29/08 - Opening Prices

The Dow Jones and the Stock Market are opening up lower today, 10/29/08. The Dow Jones opened up around 9000 and is trading in a range between 8950 - 9100. All eyes are on the Fed rate cut decision this afternoon. The Nasdaq is down 13 points today, October 29th, but Apple ( AAPL ) is bucking the trend after positive comments from Jim Cramer last night on Mad Money. Jim Cramer thinks Apple is cheap at these levels and shares of AAPL can be used to gauge how healthy the stock market is. Apple stock price is $104 per share.

Stocks To Watch - 10/29/08

MF Global ( MF ) , Las Vegas Sands ( LVS ), Potash ( POT ), Visa ( V ), Google ( GOOG ).

Here are the biggest gainers in the stock market today - http://www.blackberrystocks.com/hotstocks.html

For more stock market updates - http://daytradingstockblog.blogspot.com/

1 and 3 Month Libor Rates 10/29/08

It seems as though everyone is watching Libor rates these days. Today's Libor Rates for 10/29/08, are: 1 Month Libor Rate - 3.12% & 3 Month Libor Rate - 3.42%. The overnight Libor rate is 1.14%.

If you compare these Libor rates to yesterdays libor rates, they are much much better! These Libor rates were just priced at 7:45am Est and you saw the stock market futures jumped on this news, reversing their losses. Here are Bill Gross's comments on Libor this week.

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Stock Market 10/29/08 - Dow Jones Futures - October 29th, 2008

10/29/08 Pre Market Trading Report:

Today, October 29th, 2008, the stock market and Dow Jones Futures are pointing slightly down coming off of the second biggest point gain in the markets in history yesterday. The Dow Futures are down 45, the Nasdaq Futures are down 11, and the S&P 500 Futures are down 8 points this morning. Oil is rising big this morning, up $3.20 to $66.09. At 2:15pm today, there will be a Federal Reserve interest rate decision. The market is expecting a half of point cut and it should already be priced into the market.

Asian Markets - European Markets 10/29/08

The Nikkei followed our markets yesterday and exploded higher for the second straight day. Japan's Nikkei 225 index jumped 589.98 points, or 7.7 percent, to 8,211.90 after the dollar rebounded against the yen overnight, this eases pressure on exporters. In Europe, Britain's FTSE 100 index popped about 5 percent and France's CAC-40 was up more than 6 percent. Germany's DAX, which surged more than 10 percent in Tuesday trading, fell back nearly 2 percent.

I will have another update at 10:00am Est today.... be sure to check back

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10/29/08 Dow Futures - Nikkei Stock Market

This morning, 10/29/08, the Asian stock markets are ripping higher following the US markets earlier in the day. The Nikkei 225 index is up another 551 points at the open breaking back up through the 8000 level at 8173. Factory orders were up 1.5% vs down 3.5% last month and this is adding some lift to the Asian markets. Don't expect this to be sustained by next month however.

The Dow Jones futures are down 57 points while the Nasdaq futures are 13 points lower. Stay updated on the lastest stock market updates by going to my home page.

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