weatherweenie
TSP Legend
- Reaction score
- 105
08:30 am : S&P futures vs fair value: +31.0. Nasdaq futures vs fair value: +39.8. The futures market has spiked to fresh morning highs, now indicating a sharply higher start for stocks. The now bullish disposition is the direct result of the Fed, in an unscheduled meeting, recently cutting the discount window rate by 50 basis points, to 5.75% from 6.25%. The Fed noted that "market conditions have deteriorated" and "downside risks have increased appreciably"” since it last met on August 7.
Assurance that banks will now have available funding and the Fed saying this change will remain in place until it determines market liquidity has improved materially has lit a fire under stocks, especially throughout an influential Financial sector which is pacing pre-market gains and providing significant leadership.
Assurance that banks will now have available funding and the Fed saying this change will remain in place until it determines market liquidity has improved materially has lit a fire under stocks, especially throughout an influential Financial sector which is pacing pre-market gains and providing significant leadership.