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That 70 point pop in the DJIA at 2 ET is likely attributable to this statement from the Fed...

That 70 point pop in the DJIA at 2 ET is likely attributable to this statement from the Fed minutes: "A few members noted ... the committee might have to consider providing additional monetary stimulus." The statement shouldn't be a surprise, but any hint of QE3 is likely to please stocks, at least for a short bit.
Comments (4)
  • Gaping hole in the ocean
    , contributor
    Comments (207) | Send Message
     
    That didn't take too long just about two weeks before we needed more patting on the butt and soothing words whispered in the ear. Quite a bull market indeed.

     

    Check out the action in Italy today.
    12 Jul 2011, 03:10 PM Reply Like
  • Bear Bait
    , contributor
    Comments (672) | Send Message
     
    I was checking the news for a reason...sounds reasonable to me. However, my heart didn't flutter when I read that.
    12 Jul 2011, 03:13 PM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Bears are getting killed again and again. Slow death.
    12 Jul 2011, 03:24 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3530) | Send Message
     
    "The statement shouldn't be a surprise, but any hint of QE3 is likely to please stocks, at least for a short bit."

     

    It looks like the short bit was about an hour.
    12 Jul 2011, 04:27 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
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