Tuesday, January 29, 2008

Stocks up on hope for a rate cut

Stocks moved up on hopes for a rate. Dow was up 96, near the highs for the day, advancers beat decliners 2-1 & NAZ rose 8. Everybody is assuming the rate cut will be at least 50 basis points although I just heard somebody suggest only 25 basis points & that would be just fine with him. Hmmmmm!!

Last year, home foreclosures rose 79%. No matter how much the FED cuts the interest rate, home problem loans will continue. Google (GOOG), hosting my web site, was down 5 today & another 5 after hours. Their earnings should be out soon & maybe not so good. Earnings reports will continue but tomorrow will be the big day with the FED announcement.

No comments: