The Richest Woman in the World: How Gina Rinehart Earns her Billions
Preserve Your Budget by Freezing Foods -- Savings ExperimentReuters reports that like last week, the global markets are cratering. The question is whether the Fed will come in with the same emergency 75-basis-point rate cut it used last Tuesday when U.S. markets opened to damp the downturn. Here's the damage:
-
The pan-European FTSEurofirst 300 was down 1.3%, taking January's losses close to 13%
-
Nikkei dropping nearly 4%
In addition to the $150 billion stimulus package, the Fed is already expected to cut interest rates again this week; interest rate futures show the market is betting on another 25 or 50 basis points in cuts, possibly taking rates as low as 3.0%.
But with Dow futures down 57 at 7:15 a.m., it looks this morning like it's not enough -- the Bernanke Call -- investor's expectation that his rate cuts mark a ceiling below which the market will tumble -- appears alive and well. I wonder whether Bernanke will try another emergency rate cut this morning.
Peter Cohan is President of Peter S. Cohan & Associates. He also teaches management at Babson College and edits The Cohan Letter.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
