The market rallied after the Fed cut, but sellers emerged and the market faded into the close.I think this is a reasonable reaction given how many days the market had been rising prior to the announcement, and that fact that often traders take profits after a big anticipated news announcement comes out.I think that the combined 125 basis points of rate cuts over the last 10 days should provide pretty good stimulus at some point. It certainly lessens the risk that some big financial institution continues to experience liquidity problems.The [...]
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[Source: The Money Blogs]
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