Because the fed has spoken, and the fed did its best to do exactly what most people want except for the bears. Hence the rally with the dow gaining 113 points, s p gaining 0. 84 , nasdaq advancing 0. 74 . You may have heard a ton of verbiage today about what the fed or didnt do. It kept in the word gradual when it talked about future rate hikes, took out the word only, forecasting two more hikes making three for the year which is not surprising. In short, the fed basically did exactly what they said they would do, and without a surprise, the market soared. Hallelujah. So why does the market rally on a nonnews event . If an tornado entity like the fed simply does what people expect, why the heck is that greeted as positive by both the stock market and in some ways more important the bond market where Interest Rates went down, down hard . Nah, thats the wrong way to look at it, people. What happened today is the fed didnt surprise anyone. There was a fear that the fed could say it needs
The losing side. Will this outcome give Trumps Campaign a boost . Lou dobbs, host of lou dobbs tonight joining us with his take. There are reports for isis calling for attacks in berlin and brussels in the wake of the vote. It will be very busy hour here. Dont move a muscle. David sure is. Investors stunned by outcome of the uk vote. Dow plunging 654 points at the low today. Looks like ending the day 610 to the downside. Buyers stepped in for final moments of trading. Phil flynn, fox business contributor, price futures group. Gold, one of the biggest jumps ive seen in my life. Charles payne on floor of new york stock exchange. Charles, the market, it was betting wrong all week that the uk would stay. Do we have much more of the correction for that mistake to go . Im not sure, david. In fact the market was really meandering until yesterday, particularly late yesterday. I tell people often market tries toto anticipate what with i will happen. Sometimes the market tries to influence what
And nasdaq futures up by almost one point. Nicole japanese tax filing wall street higher paid the nikkei gaining 1 . The shanghai composite closed in China Hong Kong having also again. Lea oil prices snapping into quarter win streak and checking the and checking the oil right now up by 35 cents. Nicole a monstrous turn to hit jamaica and haiti. Hurricane matthew is a court occurring for storing with maximum sustained winds of 135 Miles Per Hour. Train to settlement talks between the Deutsche Bank and Justice Department continued no deal yet. Replacing a 5. 4 billion settlement deal with in the works will put the 14 billion originally seeking. Nicole a big days worth of the baltimore or is baltimore or as claim an american might well take it. Buffalo bills when the new England Patriots and in both u. S. Was the ryder cup for the First Time Since 2008. We will have other highlights. Lea welcome to a new week. Ipo 1 00 a. M. On monday, october october 3rd. Would like to wish all of our je
Right now rainwise things are Getting Better. Take a look at storm tracker6 live double scan and theres that rain as expected really pulling away from philadelphia and cape may and Atlantic City also in the process of drying out f youre up in ocean county youre still looking at a heavy downpour but not for that much longer. Were Still Holding onto 52 degrees officially in philadelphia but look at how places like Trenton Allentown and reading have all slammed down into the 40s and were all going to be headed down into the 40s a little bit later this morning. Some spots could even get into the 30s before we turn things around slightly. Also some strong gusty winds now coming in from the west and those will build as we go through the next hour or so. A 40 Miles Per Hour gust right now in allentown, philadelphia a little breezy but still not seeing the gusts. Heres where temperatures are going to go. By 9 oclock its not out of the question that we get all the way down into the upper 30s ev
From activist investor and its shareholder elliott management. Well have a lot more on the talks around dell and from a tech analyst in just a minute. Also Fiat Chrysler and the uaw reaching a tentative agreement on a new four year labor contract. They threatened to strike if a deal wasnt made by midnight. Also 40 pow uaw workers now must vote to okay that agreement. The last proposal was rejected by rank and File Union Members. Many retailers will report Monthly Sales today. Costco saying its september comps were flat. Analysts had been looking for a small decline. Other corporate news, Deutsche Bank warning of a record pretax loss of almost 7 billion. Among the reason, big write downs at its investment ranking unit. It might cut or eliminate the annual dividend. Sony is moving forward with a plan to sell its half of a sony atv music publishing. The journal reports that the publisher is valued at about 2 billion. It owns the rights to most of the beatles songs. Smartest thing that Mic