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

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To: Softechie who wrote (86488)6/26/2002 1:47:52 PM
From: michael97123  Read Replies (2) of 99280
 
1:30PM: With the FOMC's decision on interest rates less than an hour away, Briefing.com would remind readers that the market is expecting no change in policy... What the market will be paying close attention to, though, is the accompanying policy statement... In light of the continued slump in the equity market and the concern surrounding the Worldcom situation, there has been some talk the FOMC will reinstate the easing bias it removed in March...
While an easing bias is more likely than a tightening bias, Briefing.com believes that a balanced directive remains the best bet as the economy is still on track and the Fed will not want to overtly react to today's WCOM news, which, at this juncture, would appear to have more implications for the company, and the sector, than it does for the overall economy...NYSE Adv/Dec 1032/2174, Nasdaq Adv/Dec 1028/2299
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