| It came a few days late, but the gift investors have been desperately waiting for arrived Wednesday as the Federal Reserve unexpectedly cut short-term interest rates by a half-point.
The decision sparked a huge one-day rally that saw the Nasdaq gain 325 points, or 14.17% - its best single day of trading in history. For the record (and savor this while you can), the Nasdaq - fresh off its worst year ever - is now up 5.9% so far in 2001, despite Tuesday's huge selloff.
And just as Internet stocks led the market down last year, so too did 'Net tickers lead Wednesday's recovery. The ISDEX, internet.com's Internet Stock Index, soared 22.39% on Wednesday.
Washington Wire - WSJ.com : Clinton Will Take Campaign Into the Summer::
He sure wont be making history in the November general election at this rate, though. Obamas plan, he will remove the cap and subject all earnings to the 12.4
http://blogs.wsj.com/washwire/2008/03/29/clinton-will-take-campaio-the-summer/?mod=WSJBlogHOME |
Even better for investors, there are indications that more cuts will be on the way.
Does that mean the Fed finally has given the market a bottom? I think it's too early to tell. I believe the key is to see how the market reacts in the next few days and weeks to the many earnings warnings headed its way. If the rate cut truly has reversed (or at least halted) the precipitous plunge, then warnings from individual companies won't drag down the overall market or devastate sectors as they have in recent months.
Morgan Stanley - Global Economic Forum::
This gain in average earnings combined with the small rise in hours worked economy overheating (see Growth Cycle Is Soft Landing; Will RBI Cut Rates Soon?
http://www.morganstanley.com/views/gef/archive/2007/20071008-Mon.htmlHOME |
The Real Reasons for the Upcoming War With Iraq: A Macroeconomic and ::
to know and like to help to prevail the whole truth about current affairs, any that higher parity rate of euro against the US dollar will give the Asian
http://www.mediamonitors.net/williamclark1.htmlHOME |
One immediate indication could come from the infrastructure sector. Caching server software market leader Inktomi issued a Q1 warning after the market closed on Wednesday, and just one day after being downgraded by Merrill Lynch on general concerns about a slowdown in technology spending by major corporations.
Despite the downgrade, INKT joined other 'Net stocks in Wednesday's rally, climbing 27% from Tuesday's close of $14.56, its lowest finishing mark in more than two years. But after Wednesday's warning (in which the company said it should at least break even), INKT shares plunged as much as 27% in Europe.
It will be interesting to see not only what happens with INKT on the Nasdaq Thursday, but also rival caching software vendor CacheFlow, whose shares climbed 29% on Wednesday.
Mar 20 Denial Confronts Illiteracy: 69 Mass Delusions Jim Willie CB 321gold::
However, a strong conduit will never be cut between an external dollar and a The next round will likely come versus the yen, signaled by recent new Nikkei
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On Friday we'll take a look at the ISDEX, which saw 11 new members join this week.
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 French Tax Portal Reaches Design Stage |
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