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MARKETS GO WILD AFTER THE FED SAVES THE DAY: Here's What You Need To Know (DJIA +275, 1.64%)
BI ^ | 10-8-2014 | Myles Udland

Posted on 10/08/2014 1:20:38 PM PDT by blam

Myles Udland
October 8, 2014

Stocks rallied in a big way after the Minutes from the latest Federal Reserve monetary policy meeting showed that the Fed remains particularly cautious about raising interest rates in the face of a strengthening US dollar and a slowing global economy.

First, the scoreboard:

•Dow: 16,989.69, +270.3, (+1.6%)

•S&P 500: 1,968.86, +33.8, (+1.7%)

•Nasdaq: 4,469.60, +84.3, (1.9%)

And now, the top stories Wednesday:

1. The biggest story on Wednesday was the release of the Minutes from the Federal Reserve's September monetary policy meeting. The minutes were interpreted as "dovish," by the market, essentially meaning that the market now expects the Fed to wait longer than it currently expected to raise interest rates after the end of its current quantitative easing program, which is set to end this month. The Minutes also showed that a number of FOMC members were concerned about a strengthening US dollar and a slowing global economy. FOMC members also indicated that they want to eventually clarify that their forward guidance, or projections about when it might raise interest rates, will be data dependent.

2. Aluminum giant Alcoa was scheduled to report third quarter earnings after the market close on Wednesday, marking the unofficial start of third quarter corporate earnings season. Expectations were for Alcoa to report earnings per share of $0.23 on revenue of $5.85 billion. Overall, S&P 500 companies have pared their expectations for Q3 earnings, with earnings growth now expected to come in at 4.6%, down from 9% at the end of the second quarter. You can read Business Insider's full earnings preview here.

(snip)

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: djia; earnings; economy; feds; stockmarket; stockmarketchart
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DJIA = +274.83

1 posted on 10/08/2014 1:20:38 PM PDT by blam
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To: blam

There is going to be a very nasty boomerang some day.


2 posted on 10/08/2014 1:22:19 PM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both.)
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To: blam

Your Fed in action, making sure there is no negative financial news until AFTER the election.


3 posted on 10/08/2014 1:22:59 PM PDT by AZLiberty (No tag today.)
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To: blam

This is getting fun to watch again. :-D


4 posted on 10/08/2014 1:23:14 PM PDT by cuban leaf (The US will not survive the obama presidency. The world may not either.)
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To: BenLurkin

This is ridiculous!


5 posted on 10/08/2014 1:23:55 PM PDT by AngelesCrestHighway
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To: BenLurkin

Screw the grandkids, let’s party!


6 posted on 10/08/2014 1:24:58 PM PDT by dfwgator (The "Fire Muschamp" tagline is back!)
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To: blam

Make sure you’re not anywhere near the door when the stampede comes along...


7 posted on 10/08/2014 1:25:13 PM PDT by AngelesCrestHighway
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To: blam

Happy days are here again, Mamma!


8 posted on 10/08/2014 1:25:34 PM PDT by exit82 ("The Taliban is on the inside of the building" E. Nordstrom 10-10-12)
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To: BenLurkin; expat_panama

I’ve been watching about 3 stocks to hit bottom wherever that is before buying back in. I’ve been waiting for the major correction and have missed a lot of good action by doing so.


9 posted on 10/08/2014 1:25:41 PM PDT by Aliska
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To: BenLurkin

I see it more as an overinflated balloon.
You aren’t gonna see it coming, the POP!


10 posted on 10/08/2014 1:27:45 PM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: blam

Isn’t it odd that the DJ rose 273——almost EXACTLY the same number of points it lost y’day +/- 1 or 2 DJ points which is pure noise on a monster +34 point /ES rally?


11 posted on 10/08/2014 1:30:54 PM PDT by Attention Surplus Disorder (At no time was the Obama administration aware of what the Obama administration was doing)
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To: blam

I think it rose on the euphoria of the gay-marriage crowd, who are apparently widely supported by corporate America.


12 posted on 10/08/2014 1:33:23 PM PDT by madprof98
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To: Attention Surplus Disorder

Screw the savers who make nonexistent income on their savings while helping the high-profile gamblers on Wall Street.


13 posted on 10/08/2014 1:34:10 PM PDT by laconic
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To: blam
that the market now expects the Fed to wait longer than it currently expected to raise interest rates after the end of its current quantitative easing program, which is set to end this month.

Interest rates are essentially zero right now.

We as a nation spend $3.5T per year, roughly equally divided in thirds. One third for defense, one third for social programs and one third to service the debt.

When interest rates rise, servicing the debt increases and we are left with reducing Defense, reducing social programs or screwing the banks. Oh, if you didn't know it, the banks never get screwed.

14 posted on 10/08/2014 1:34:16 PM PDT by Zuben Elgenubi (NOPe to GOPe)
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To: blam

The administartion is pulling out all stops to help demorats in November.


15 posted on 10/08/2014 1:34:40 PM PDT by entropy12 (Marxist, race baiter, community organizer Obummer is 10 times worse than any RINO)
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To: Aliska; Lurkina.n.Learnin

This is exactly what we were talking about —welcome to VE1!


16 posted on 10/08/2014 1:36:16 PM PDT by expat_panama
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To: AZLiberty

I wonder how the FED is going to hold back negative ebola news?


17 posted on 10/08/2014 1:36:53 PM PDT by Mouton (The insurrection laws perpetuate what we have for a government now.)
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To: blam
MOAR FREE MONEY FOR EVERYBODY!!
18 posted on 10/08/2014 1:38:05 PM PDT by Darteaus94025 (Can't have a Liberal without a Lie)
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To: AZLiberty
Your Fed in action, making sure there is no negative financial news until AFTER the election.

... and I'll be cashing out that Monday

19 posted on 10/08/2014 1:39:16 PM PDT by tx_eggman (Liberalism is only possible in that moment when a man chooses Barabas over Christ.)
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To: BenLurkin
Yup. Fed rates are not going up - they can't. If the US government ever had to pay market rates for $17+ trillion, we'd go bust in an instant. Here's a snapshot of Janet Yellen keeping the economy humming


20 posted on 10/08/2014 1:39:26 PM PDT by Sgt_Schultze (A half-truth is a complete lie)
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