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For the economy. And the Federal Reserves policy is to do whatever we can to keep the economy on course. The fed also downgraded its outlook for the economy. It now expects gdp growth will be in the 2 to 2. 3 range for this year. As for the market response to the feds announcement, well, stocks soared to alltime highs. Looks like game on as far as any of these shortterm traders are concerned. You saw bond yields retreating. The Dow Jones Industrial average closed at 15,676. The tenyear yield crept down to 2. 7 . The dow and the s p posting their best day since midjune. All the sectors closed in positive territory. Among the biggest winners, the Home Builders. We talked about how that was an Interest Rate sensitive group. 2. 7 was where it closed yesterday. The futures this morning are sitting like theyre going to be higher once again today. Dow futures up by about 61 points. S p up by 7. 5. In europe, the ftse 1 is 00 is up by 1. 4 . Gains of better than 1 for both the cac and the dax.

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