On today’s STOP TRADING segment on CNBC, Jim Cramer did note that this was a loosening of the bias out of the Fed today even though there was no rate cut. At the time of the statement it seemed harsh, but the fed doesn’t want to cause a panic. He still thinks you’ll see a MAY cut and this is a dovish statement. If anyone is reading this non-dovishly they are not looking at the data, according to Cramer. He said this is why banks are rallying. Bill Gross and Rick Santelli both came back with the same analogy of rates coming down and the banks rallying.
After today’s rally, the DJIA is now up 136 points at 12,424.29. Cramer gave no individual picks other than in broader sectors.
Jon C. Ogg
March 21, 2007
Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Orare you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
