Adding to this crazy volatility was enormous news for Tuesday, starting with earnings and stance from two other major financial companies, Lehman Brothers along with Goldman Sachs, who reported more affirming results than had been predicted. Especially following the news of the Bear Stearns circumstances, this was highly greeted news to an edgy Stock market. New construction numbers reported varied, along with a better than expected take on wholesale inflation per the Producer Price Index. Then the Fed acted, and released their bureaucratic decision to cut Fed Fund Rates by ¾ of a %. Many people anticipated deeper cuts, but they likely kept the cut to only ¾ of a %. because of continued worries of inflation.
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