Wednesday, December 05, 2007
Banks Downgraded
Downgrades and uneasiness ahead of the employment report Friday pushed stocks lower Tueday. The Dow gave up 65.84 points to 13,248.73. The S&P 500 lost 9.63 points to finish the session at 1,462.79.
We have no play on as we are waiting for the Fed.San Francisco Fed President Janet Yellen noted yesterday that data since October’s meeting suggest a bigger slowdown than initially expected. This just confirms further the view that the Fed will cut rates next week. In fact, odds of a 50-basis point cut are now about 50 percent.
Until next time.
We have no play on as we are waiting for the Fed.San Francisco Fed President Janet Yellen noted yesterday that data since October’s meeting suggest a bigger slowdown than initially expected. This just confirms further the view that the Fed will cut rates next week. In fact, odds of a 50-basis point cut are now about 50 percent.
Until next time.
# posted by Paul @ 6:31 AM 
