Business

No bad news for this week. No good news for this week.
by Ana Maria Ciobanu

After everyone wondered what's going on with Wall Street, what's going on with the economy, what is the Fed going to do about it, are they going to do something about it and so on, it turns out the economy wasn't threatened by turmoil in the credit markets. Stocks made a late-day surge after the Fed failed to move toward an easing of interest rates Tuesday. Initially the investors were very disappointed that policymakers who kept benchmark rates on hold at 5.25 percent didn't provide them any hints about a possible cut. It didn't take them long though to solace the economy is likely to withstand problems in the mortgage industry. The Fed's Open Market Committee's economic assessment informed everyone that the Central Bank's primary concern is the risk that inflation will fail to moderate as it is expected. The Dow gained 0.26 percent to 13,504.30. Investors moved back into stocks and as a result the treasury bonds fell. Gold prices fell. The statements of the Fed weren't to strong and certainly weren't different from the ones in their last meeting. No positive or negative news was released... Again we have to wait till they'll publish some strong reports about this situation, some strong economical analysis. Everything is still blurry at the moment and who knows for how long it will remain this way?

by Ana Maria Ciobanu for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 12:55 PM