Thursday, August 30, 2007
......and Up Again
Most of Tuesday's losses were clawed back yesterday in another volatile session. The Dow finished up 247 points higher at [ ] and the SPX was up [ ].
The move higher was being attributed to positive stock news and an August 27 letter from Fed Chairman Ben Bernanke to US Senator Schumer that said the head of the Fed is “closely monitoring” markets. Stocks gathered some afternoon momentum when the letter was released in late-day trading. At the same time, it seems that low volume and thin trading, which is due to the fact that many players are on vacation, has been exaggerating market volatility so far this week.
Bernanke is speaking on Friday and might give some indication as to what will happen to interest rates. Lets see.
Until next time.
The move higher was being attributed to positive stock news and an August 27 letter from Fed Chairman Ben Bernanke to US Senator Schumer that said the head of the Fed is “closely monitoring” markets. Stocks gathered some afternoon momentum when the letter was released in late-day trading. At the same time, it seems that low volume and thin trading, which is due to the fact that many players are on vacation, has been exaggerating market volatility so far this week.
Bernanke is speaking on Friday and might give some indication as to what will happen to interest rates. Lets see.
Until next time.
# posted by Paul @ 6:01 AM 
