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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Clappy who wrote (11491)	11/6/2002 2:20:53 PM
From: Jorj X Mckie	Read Replies (2) \| Respond to of 57110

14:18 ET Surprisingly dull response to Fed action Both Dow and Nasdaq were near unchanged before the Fed's announcement; they have rallied, but not dramatically: Dow +34, Nasdaq +10. 14:16 ET Fed cuts half point, moves to neutral directive Fed says that "incoming economic data have tended to confirm that greater uncertainty, in part attributable to heightened geopolitical risks, is currently inhibiting spending, production, and employment". Vote was unanimous, and Fed moved back to a neutral directive after taking this aggressive action. The Fed also cut the discount rate by 50 bp. 14:14 ET Fed cuts funds rate 50 bp to 1.25%