Stocks rose upon US Fed announcement of a 0.5 cut in its lending rate, in view of tightening credit-market and housing slump that will affect the US economy. The interest rate was cut from 5.25% to 4.75% which was the 1st cut in 4 years.
With this,
- US$ declines to 15-yr low
- Oil price raises to record high above $82/barrel
* Bloomberg-Fed , Bloomberg-Asia Stocks , CNBC-US$ , CNBC-Oil *
*****
Many must hv popped the champagnes and watch the bull runs today ... ...
Wednesday, September 19, 2007
Fed Cut Interest Rates by 0.5
Labels:
Bank,
Interest Rates,
US
Subscribe to:
Post Comments (Atom)
1 comment:
Don't celebrate so fast yet. Indeed, stocks are in a bull run today, but look at the crude oil and commodities. Crude is at all time high of $81+, Gold & Silver are going up, Wheat & Soybean are also going up. Should have pump full tank over the weekends.
Post a Comment