« September 2007 | Main | November 2007 »

Oct31
Investors cheer Fed rate cut

The news of the day was that the Federal Reserve decided to cut interest rates by 25 basis points to 4.5%. The Fed said that it believes that inflation risks and downside risks to growth are now equal. There was also one dissenter today, Thomas Hoenig, who preferred no change in the fed funds rate.  If you would like to read the monetary policy press release from the FOMC, click here. Initially investors saw some pause from today's cut since it hints that this may be the last of the cuts, but after some digestion investors bid up stocks ben%20bernanke%202.jpgnicely into the close. The Dow finished higher by 137.54. The Nasdaq charged higher by 42.41. The S&P 500 rose by 18.36, or 1.2%.

The energy stocks were huge winners today, as oil charged higher, hitting another 52 week high today. The price of crude oil today closed at $94.54 a barrel, up by more than $4 from yesterday's close. As has been the case so often of late, the clearest leaders were the Chinese oil stocks. PetroChina (NYSE:PTR) and China Petrol. and Chemical (NYSE:SNP) gained 6.88% and 10.52% respectively today. Apache Corporation (NYSE:APA) led the oil and gas operations group higher, gaining 4.85% today. Encana Corporation (NYSE:ECA), the Canadian natural gas producer, gained 5.21% today and hit a new 52 week high.

The basic material stocks were another huge winner today. These stocks continue to run because of huge demand for many basic materials all around the world. Monsanto Company (NYSE:MON) gained 4.98% on the day. Potash Corporation (NYSE:POT) shares gained 3.57% and hit another new 52 week high. Barrick Gold Corporation (NYSE:ABX) led the gold mining stocks higher, gaining 4.1% today.

As you might suspect based on the strength of the Nasdaq composite, the technology stocks were also very strong today. VMware Inc. (NYSE:VMW) shares rose by 3.72% to a new 52 week high today. Electronic Arts (Nasdaq:ERTS) closed higher by 3.59% today. First Solar Inc. (Nasdaq:FSLR) gained another 6.05% today. FSLR has now gained over 95% from its August lows, and has nearly tripled in the past six months.

Continue Reading
Oct30
The 5 worst reasons to sell a stock
Earnings Review for October 30
Oct29
Stocks start the week on a strong note
Oct28
Weekly earnings preview October 29 to November 2
Oct25
Earnings Review for October 25
Oct24
Earnings review for October 24
Stocks pare losses, end down slightly
Oct23
Earnings review for October 23
Stocks jump across the board
Oct22
What is dollar cost averaging?
Volatility abound as stocks finish higher
Oct21
Earnings preview for October 22nd to October 26th
Oct18
Earnings Roundup for October 18th
Oct17
Earnings Review For October 17th
Volatility reigns as equities finish mixed
Oct16
Earnings review for Tuesday October 16th
Stocks extend losses on more bad news
Oct15
At what point does the price of oil hurt the economy?
Stocks fall as credit worries and oil surge spooks investors
Oct14
Weekly market preview for October 15th-October 19th
Weekly market preview for October 15th-October 19th
Top 5 reasons to buy a stock
Oct12
Stocks head into the weekend with gains
Stocks rebounding from yesterday's reversal
Economic numbers mixed and somewhat puzzling
Oracle makes offer to buy BEA Systems, Icahn sitting pretty
Oct11
How to choose a mutual fund
Wild reversal day on wall street ends with losses
Retail sales roundup
Oct10
Stocks mostly lower as investors react to profit warnings
Earnings warnings and misses surprise Wall Street
UAW strikes against Chrysler
Interesting Charts- Excel Maritime (EXM)
Oct 9
S&P and Dow hit highs as Fed minutes ignite stocks
FOMC minutes show unanamity
Oct 8
Stocks end mostly lower
Oct 7
Weekly market preview- October 8th to October 12th
Oct 5
Around the blogging world
S&P at all time high as stocks cheer employment report
Story Stocks- Research in Motion (RIMM)
Nonfarm payrolls rebound nicely
Oct 4
Mortgage rates falling across the board lately
Stocks inch higher as investors wait on data
Flat day so far for stocks
Story Stock- NutriSystem (NTRI)
Top 5 reasons to sell a stock
Oct 3
Verizon introduces new lineup led by the LG Voyager
Another day of small losses so far
Valuation Study- Coca Cola vs PepsiCo
The GARP investing style explained
Oct 2
Max out 401k contributions before investing elsewhere
Role reversal day on wall street as stocks end mixed
Stocks showing moderate losses at midday
Top 5 Retail Stocks
Oct 1
Stocks strong as Dow pushes to new all time high
Indra Nooyi tops Fortune's 50 most powerful women list
Story Stock- Walgreen (WAG)

« September 2007 | Main | November 2007 »

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