Stocks are mixed although decliners lead advancers 3-2. Everybody's waiting for the FED announcement on cutting interest rates. Freddie Mac (FRE) said their losses will be a good $6-7B worse than thought (down 2). H&R Block (HRB) is down a little, still trying to deal with huge losses on their mortgage portfolio. Washington Mutual (WM), the country's largest S&L, invests primarily in mortgages, sold $2.5B in stock which will add equity to the balance sheet. Can you spell "uh-oh?" There is some good news. AT&T (T) announced a big dividend increase, they are optimistic about the future making my friend happy. Now she can buy more goodies.
Hang in there. In a couple of hours we'll hear from the FED.
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