Re: Official - Will The Fed Cut Rates? on 9/18 Discussion
 

S&P immediately jumped over 1.3% to post almost 2% gains for the day now.

Don't have dollar data in front of me, but I'd expect the exact opposite happened to it.

Edit: The Euro is almost up to $1.40 on xe.com and yahoo finance but I don't know if this rate is updated during the day.

Re: Official - Will The Fed Cut Rates? on 9/18 Discussion
 

Tell me why Yahoo Finance is down during this important moment.

Also, now the question will be "will the Fed continue to cut rates?"

Re: Official - Will The Fed Cut Rates? on 9/18 Discussion
 

How much of a correction are we going to see tomorrow? how long will this rally last?

Re: Official - Will The Fed Cut Rates? on 9/18 Discussion
 

Madness.

Re: Official - Will The Fed Cut Rates? on 9/18 Discussion
 

This is ridiculous. The high for QQQQ is 2,000 for today. wtf.

Re: Official - Will The Fed Cut Rates? on 9/18 Discussion
 

This is the first time I get emotional with the market. Seeing all these green numbers literally gave me a headache. Probably tension being relieved and the blood got chaotic.

Re: Official - Will The Fed Cut Rates? on 9/18 Discussion
 

http://www.bloomberg.com/markets/currencies/fxc.html

USD/EUR 1.40 here we come!!!

Also it looks like we're fast approaching 1:1 against the CAD. BOOOYAH!

Re: Official - Will The Fed Cut Rates? on 9/18 Discussion
 

annnnnnnd settlement for the futures... about 43 points up for the S&P today.... crazy

Re: Official - Will The Fed Cut Rates? on 9/18 Discussion
 

I dont know what everyone is getting worked up about.

It seems obvious that the solution to a crisis in the international banking and financial system brought about by cheap money and irresponsible lending is a cut in interest rates. [img]/images/graemlins/crazy.gif[/img]

Re: Official - Will The Fed Cut Rates? on 9/18 Discussion
 

[ QUOTE ]
"Release Date: September 18, 2007
For immediate release

The Federal Open Market Committee decided today to lower its target for the federal funds rate 50 basis points to 4-3/4 percent.

Economic growth was moderate during the first half of the year, but the tightening of credit conditions has the potential to intensify the housing correction and to restrain economic growth more generally. Today’s action is intended to help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets and to promote moderate growth over time.

Readings on core inflation have improved modestly this year. However, the Committee judges that some inflation risks remain, and it will continue to monitor inflation developments carefully.

Developments in financial markets since the Committee’s last regular meeting have increased the uncertainty surrounding the economic outlook. The Committee will continue to assess the effects of these and other developments on economic prospects and will act as needed to foster price stability and sustainable economic growth.

Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; Timothy F. Geithner, Vice Chairman; Charles L. Evans; Thomas M. Hoenig; Donald L. Kohn; Randall S. Kroszner; Frederic S. Mishkin; William Poole; Eric Rosengren; and Kevin M. Warsh.

In a related action, the Board of Governors unanimously approved a 50-basis-point decrease in the discount rate to 5-1/4 percent. In taking this action, the Board approved the requests submitted by the Boards of Directors of the Federal Reserve Banks of Boston, New York, Cleveland, St. Louis, Minneapolis, Kansas City, and San Francisco."

http://www.federalreserve.gov/newsev.../20070918a.htm

[/ QUOTE ]

Different than Greenie speak so I was off on inflation risks contained type language. Markets were sizzlin today after the announcement. Really good rally. I'm hoping for a little follow through tomorrow. Looks like new highs for the DJIA and S&P 500 as well are imminent.