A Currency Bounce
Oct 29th, 2008 | By Chuck Butler | Category: Financial NewsU.S. stocks soar! Currencies rally! Consumer Confidence at an all-time low! Getting off the bench! And Now… Today’s Pfennig!
U.S. stocks soar! Currencies rally! Consumer Confidence at an all-time low! Getting off the bench! And Now… Today’s Pfennig!
U.S. equities rallied yesterday (Tuesday) as the U.S. Federal Reserve convened for the first day of a two-day meeting of its monetary policy committee.
You’ve likely heard of being “bushwhacked.” Well, yesterday the market got Fed-whacked. Notes from the Federal Reserve’s April 29-30 meeting were released and, boy, did they make for some unpleasant reading.
U.S. Service Sector Shows Signs of Life; Morgan Stanley to Slash More Jobs; Random House to Turn the Page on Chief Executive; Countrywide Rated “Underperform”, Shares Dive; Sprint Nextel Corp. Considering Spinning Off Nextel; Warren Buffett’s Warning; Principal Financial Slumps; Wal-Mart Widens Drug Plan Scope
The Bank of England (BOE) cut its interest rate 25 basis points to 5.0% yesterday (Thursday) while the European Central Bank (ECB) held its rate steady at 4.0%.