DJIA = +274.83
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.
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(Excerpt) Read more at businessinsider.com ...
DJIA = +274.83
There is going to be a very nasty boomerang some day.
Your Fed in action, making sure there is no negative financial news until AFTER the election.
This is getting fun to watch again. :-D
This is ridiculous!
Screw the grandkids, let’s party!
Make sure you’re not anywhere near the door when the stampede comes along...
Happy days are here again, Mamma!
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.
I see it more as an overinflated balloon.
You aren’t gonna see it coming, the POP!
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?
I think it rose on the euphoria of the gay-marriage crowd, who are apparently widely supported by corporate America.
Screw the savers who make nonexistent income on their savings while helping the high-profile gamblers on Wall Street.
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.
The administartion is pulling out all stops to help demorats in November.
This is exactly what we were talking about —welcome to VE1!
I wonder how the FED is going to hold back negative ebola news?
... and I'll be cashing out that Monday
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