Wednesday brought the market the package it was expecting to give us a green close on higher volume leaving accumulation days on the NYSE and Nasdaq. All while crude is hitting record highs closing up $3.86 at $94.24, crude wasnt the only commodity at record highs today. Gold traded at 28 year highs up to $802.50 today. All of this after the Fed cut the Fed fund rate and the discount rate by .25. The statement did leave us back to a data dependent market on future cuts, but everything else was exactly what the market wanted. Bernanke seems to be listening [...]
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[Source: The Money Blogs]
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