The Federal Reserve didn’t wait until its regularly scheduled month-end policy meeting to take action, and announced an emergency half-point interest rate cut, bringing the Fed funds rate to 1.5% from 2%. In coordinated fashion, six other global central banks also cut their key interest rates, but a knee-jerk rally in stock index futures faded [...]
Stock index futures are on the rise after two losing sessions after well-known investor Warren Buffet (a.k.a. “the Oracle of Omaha”) took a $5 billion stake in Goldman Sachs. He also gave his support for the $700 billion financial bailout plan now being presented before Congress by Treasury Secretary Henry Paulson and Federal Reserve Chairman [...]
Government Financial Fixes Prop Stock Indexes, But Price Tag Big By Jeff Friedman There has been so much news about our financial system and how it’s been affecting both financial and commodity markets. We’ve had some wild swings in the past week–what a rollercoaster ride! Hundreds of billions of dollars for bailouts, it’s incredible. [...]
S&P futures closed sharply higher on Monday in the wake of news the government would bail out Freddie Mac and Fannie Mae but are mixed in early trade. The September futures moved above 1278 Monday, which marks the 20-day moving average and key resistance, but profit-taking took back some gains by day’s end.September S&P futures [...]
The latest fundamental reports are indicating the U.S. economy is getting perhaps little stronger, giving a boost to stock index futures in early trade. The Commerce Department reported U.S. durable goods orders rose 1.3 percent in July, higher than analysts had expected. September S&P futures were last trading at 1271.50. Senior Market Strategist Jeff Friedman [...]
After the Dow Jones Industrial Average hit new lows for the year Thursday, the index has extended losses and is down about 3.9 percent for the week and near 10 percent for the month, baring a big rebound Monday. Meanwhile, the Standard & Poor’s 500 Index is down about 3.1 percent for the week, and [...]
Stock indexes are weak in early trading after a down day Tuesday, June 17. September S&P futures were last down 6.75 at 1344.25. Tuesday’s hotter-than-expected PPI was unwelcome news on the inflation front, and this morning, bearish news from Fed Ex and Morgan Stanley came on the earnings front. Crude oil is also heading back [...]
