Fed Leaves Rates Unchanged, Market Fights For Direction

Posted on Wed 25th Jun, 2008 02:51:05 PM

For the first time in ten meetings the Federal Reserve has not decided to cut interest rates. An expected result as rates then remain unchanged at 2%, but the market itself is not so sure how to react.

For those of you who are watching the market live right now you can see just how intense the volatility really is. Here is a screenshot taken just moments ago of the Qs (QQQQ). Notice the quick up and down swings that have taken place since around the 2:15 PM announcement:

This is constantly changing but as of 2:49 PM the NASDAQ is up 1.5%, the Dow is up .46%, and the S&P 500 is up 1% even. Should be an interesting close, good luck out there.

3:03 PM Update: Looks like the bulls have won for now…