US stocks rebound in fractious session – Economic Times- Topic: Stock Trading News
Recession jitters gained some traction Wednesday after Goldman Sachs predicted contraction in the next two to three quarters and slashed its 2008 growth forecast to 0. The Wall Street investment titan’s report that the US “is falling into recession” came came two days after Merrill Lynch said a recession was “a present-day reality” for the world’s biggest economy. Goldman Sachs said it expects the Federal Reserve to cut interest rates aggressively, bringing the federal funds rate from 4. The market was keenly awaiting a speech Thursday by Fed chairman Ben Bernanke in hopes of discovering clues on the direction of monetary policy. AG Edwards analyst Al Goldman noted “the market took some comfort today from a positive earnings forecast by DuPont. The aluminum company, a Dow component, kicked off the quarterly earnings seasons after the market close, reporting reported a 76 percent jump in fourth-quarter net profit and a 14. read more
Technorati Tags: market, bond, goldman, recession, 1, 2008, stock trading news
For more Stock Trading resources just click on any of the following links: Stock Trading , Online Trading , and Option Trading.