Markets Stop On A Dime And Shoot Upwards – S&P Rallies 25 Points In An Hour

October 24, 2007 at 12:25 pm  ·  Category: Market Commentary

Well, well, I have no idea why but: S&P 1 Day Chart.

UPDATE (Wed 10/24, 8:45pm PST): It seems that the reason for the late day surge was rumors of an emergency rate cut from the Fed (subscription required, free).

Why the Fed would step in in a panic today, when they are scheduled to make a decision next Wednesday, is beyond me.

Posted by Greg Feirman  ·  Trackback URL  ·  Link
 

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