Thursday, 10 April 2008

Rates now 3% not 4.5% Stocks rally. 2008-01-31

Thursday 30th January 2008: 9.13 p.m.

The stock markets are rallying today generally, digesting this second Fed rate cut, bringing the Fed Funds Rate to 3% from 4.25% just over a week ago! Just how far will they drop it? Who's expecting zero this time around?

The market rally follows a wild ride earlier in the day: Markets in meltdown as both FTSE and Dow Jones plunge again amid recession fears.

Meanwhile, Gold futures closed with modest gains.

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