You can call on numerous issues for today's big market rally. Goldman Sachs Group, Inc. (NYSE: GS) led the brokerage firms higher after beating earnings expectations, and that may have been equally as important to traders as today's three-quarters of the way interest rate cut when it took Fed Funds down to 2.25%. Many traders were looking for a full 1% rate cut on the Fed Funds and Discount Rate. The Fed even delivered a cut after seeing a strong PPI number that was much more realistic than the CPI number of last week.
- DJIA 12,392.66 (+420.41; +3.51%)
- S&P500 1,330.74 (+54.14; +4.24%)
- NASDAQ 2,268.26 (+91.25; +4.19%)
- 10YR-TBond 3.451% (+0.137%)
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