Wednesday, November 04, 2009
Fed Day
Tuesday saw a mixed session for the major market indices. The Dow fell 17.53 to end on 9,771.91. The SPX gained 2.53 points to end at 1,045.41. We are in the green and looking ok.
Major news Tuesday was Berkshire Hathaway (BRK.B) are buying transport company Burlington Northern (BNI) for $100 a share, or $44 billion in cash and stock. Warren Buffet is showing a lot of faith in the economy, yet this news didn't provide the boost I would have anticipated. Ominous sign? Who knows.
Today Wednesday its about the economic data, especially the statement by the Fed at 2:15 p.m. EST. Other reports set for release include the ADP Employment report, the Challenger report and the ISM Non-Mfg. Index.
Traders are anticipating no change in the Fed funds target rate, but how the committee views the economy could have a major impact on trading.
Until next time.
Major news Tuesday was Berkshire Hathaway (BRK.B) are buying transport company Burlington Northern (BNI) for $100 a share, or $44 billion in cash and stock. Warren Buffet is showing a lot of faith in the economy, yet this news didn't provide the boost I would have anticipated. Ominous sign? Who knows.
Today Wednesday its about the economic data, especially the statement by the Fed at 2:15 p.m. EST. Other reports set for release include the ADP Employment report, the Challenger report and the ISM Non-Mfg. Index.
Traders are anticipating no change in the Fed funds target rate, but how the committee views the economy could have a major impact on trading.
Until next time.
# posted by Paul @ 3:46 AM 
