Stocks Jump As Rate Cut Hopes Increase (Dow up 335, NASD up 80)

AP?YodleWho! ^ | Wednesday November 28, 2:57 pm ET | By Madlen Read, AP Business Writer

[rightinthemiddle]

Wall Street Has 2nd Straight Rally on Rate Cut Hopes, Signs That Financials Are Finding Cash

NEW YORK (AP) -- Wall Street barreled higher Wednesday for the second day in a row, propelling the Dow Jones industrials up more than 300 points after a Federal Reserve official hinted that the central bank may lower interest rates again.

Investors' renewed hopes for a rate cut added to their relief that companies that made losing bets on subprime mortgages, such as Citigroup Inc. and Freddie Mac, are coming up with ways to raise cash.

Early Wednesday, Fed Vice Chairman Donald Kohn told the Council on Foreign Relations that recent financial turbulence has reversed some of the improvement seen in markets in previous weeks, and could squeeze credit for households and businesses. He said tight financial conditions may merit "offsetting" policy from the central bank.

[Beagle8U]

“Don’t mock them, If I just listened to those goldbugs half the time, I’d be a millionare.”

The half I would listen to them is when they say nothing.

They always hawk for a buy when they are selling, do the opposite.

[Nervous Tick]

>> Work, save, invest, pay your bills, stay insured. Work is the key. Control your own destiny.

Well said.

[Citizen of the Savage Nation]

Of course, but then again, this ain’t a bear market. We’ve had a 10% correction, after which, the market was still up for the year. Neither case is a trademark of a bear market. Just like the “Recession” doomsday folks, saying something over and over doesn’t make it true.

[Citizen of the Savage Nation]

I've been hearing this guy on the top of the news every hour saying how investors aren't paying attention to the housing problems we have. As if trying to say...

"HEY, you idiots... You can't make the markets go up, we've got BIG problems here!"

Exactly. I remember the last housing bust cycle. At the same time in the cycle as we are now with this downturn, the last one was far worse. Wake me up when these 9-sigma doomsday events happen...until then...(yawn)...