Doomzies faked out of their panties by Wall St. again:greenspun.com : LUSENET : Poole's Roost II : One Thread |
http://dailynews.yahoo.com/h/nm/20001205/bs/markets_stocks_dc_907.html Tuesday December 5 3:25 PM ET
Stocks Zoom on Greenspan, Election News
By Elizabeth Lazarowitz
NEW YORK (Reuters) - Stocks added to the day's big rally in late afternoon trading on Tuesday, pushed upward by speculation that the U.S. central bank may consider cutting interest rates and the battle for the White House is nearing a conclusion.
Federal Reserve Chairman Alan Greenspan (news - web sites) said the Fed had to be alert to the possibility of ``excessive softening'' in the U.S. economy, hinting that he may be willing to contemplate lower interest rates.
Republican George W. Bush (news - web sites) inched closer to victory in the disputed presidential election after a Florida judge on Monday rejected Democrat Al Gore (news - web sites)'s legal challenge to the state's election results.
``Most people now assume the game is over ... so I think that's taken one of the uncertainties out of the market,'' Alfred Kugel, senior investment strategist at Stein, Roe & Farnham, said of the election dispute. ``Greenspan's talk probably addressed the second one.''
The Nasdaq Composite Index (^IXIC - news) soared 237.04 points, or 9.04 percent, to 2,852.79, poised to rack up one of its biggest percentage gains ever. The current record for the biggest one-day gain was on May 30 when it closed up 7.94 percent, according to the Nasdaq.
-- Anonymous, December 05, 2000
"faked" assumes Doomzies had a market position in the first place. You think your Doomzies are in the market? Shorts maybe? If so wonder how much they've made since March.
-- Anonymous, December 05, 2000
Greenspan is laughing all the way to the bank (pun not intentional). He sure knows how to fatten up a cow and then milk every last drop out of it.
-- Anonymous, December 06, 2000
cpr,
What do you think would happen to the value of the dollar vs other currencies if the Fed cut interest rates?
-- Anonymous, December 06, 2000
Notice how PPT comes to the rescue whenever the market seeks to find its real bottom, then we need higher interest rates to keep it from getting "too hot"!
-- Anonymous, December 06, 2000