Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: DlphcOracl who wrote (5839)	11/15/2001 8:55:38 AM
From: DlphcOracl	Read Replies (1) of 99280

Jobless claims fall 8K to 444K, much lower than the 475K consensus. While very encouraging from an economic standpoint, suggesting that layoffs appear to be declining, this has resulted in sharp drop in Dow (-25) and Nasdaq (-21) futures. Why? Because it has raised the fear or specter among futures traders that the Fed will not ease interest rates again in December. According to Rick Santelli on CNBC (the only knowledgeable analyst on CNBC, I might add), the futures went almost instantaneously from 100% to barely 50% for probability of an additional Fed rate cut.

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