Fed cuts interest rates 0.5% ; Dow up 336

[kstuart]

Any SatelliteGuys members with adjustable interest rates on their mortgage (or car or credit cards) will be paying less. :up

The Federal Reserve today cut interest rates by 0.5 % ; the result was the best day for the stock market in 5 years.

The change should be very positive for the US economy and a variety of businesses (including satellite television).

The only losers should be short-selling hedge funds that bet against the move.

 

[pdxsam]

With the Dow up 336 points, E* can afford a few more encoders. Bring on more HD :


Sorry couldn't resist.

 

[kstuart]

Since you mention it, E* stock up 2.64% today.

 

[rockymtnhigh]

Moving to chit-chat forum. I know you posted this as Off-Topic, but... it really is off-topic.

 

[Paul Wozniak]

Just in time! I'm about to refinance my house.

 

[BobMurdoch]

Good luck.... Credit has been harder to come by and more expensive..... I lucked out and got a Jumbo 30 year Mortgage for 6.125% with no points to finance my house renovation (3 months down, 3 to go).... I got it back in April before the current mess.

I hope everything works out well for you....

 

[AllieVi]

The move will certainly make people happy and drive stock prices up in the short-run, but we’ll have to see what happens after the euphoria wears off.

The rate cut came at a very interesting time. Options expire on Friday, and the stock price rises have made many of them that would have expired worthless suddenly have value. Big money was made by those who wagered and bought the right ones for a few cents each earlier this week and now have a few dollars each. It’s an interesting and stimulating game.