Posted By:
Fred CNews flash everyone -
THE FED CUT THE INTEREST RATE BY 3/4 of a point! The cut brings the rate to its lowest point since 2004 (about the time when real estate started to hit the peak).
Usually, there's a market increase when the fed cuts rates by large amounts such as this. That makes money really cheap. The key interest rate sits at 2.25%.
It will be interersting to see just how long the dow stays above 12K.