{"id":1913,"date":"2009-09-23T07:32:45","date_gmt":"2009-09-23T12:32:45","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=1913"},"modified":"2009-09-23T07:32:45","modified_gmt":"2009-09-23T12:32:45","slug":"before-the-open-sep-23","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=1913","title":{"rendered":"Before the Open (Sep 23)"},"content":{"rendered":"

Good morning. Happy Wednesday. Happy Fed day.<\/span>
\nToday\u2019s the day the Fed tickers with interest rates. They don\u2019t do it directly. Instead they target the overnight rate which influences how aggressively banks lend and at what rate they lend. The overnight rate is basically at 0, so it can\u2019t go lower. Although there\u2019s been some chatter the Fed needs to raise rates, it\u2019s unlikely they do it. They tend to be late with all rate moves \u2013 waiting too long to raise or lower, not raising or lowering fast enough. They like to be absolutely sure before making an adjustment. They could however change the language in their statement. For many meetings, they\u2019ve let it be known rates will remain low for a long time, but things are better now, right? In fact Bernanke said himself the recession is likely over. If this is the case, shouldn\u2019t they consider raising rates or let it be known rates aren\u2019t likely to stay this low for long?<\/span>
\nAnyway, as usual the market will be slow until the 2:15 EST announcement. <\/span>
\nThe Asian\/Pacific markets closed mixed.<\/span>
\nEurope is currently most up.<\/span>
\nFutures here in the States are up a couple points.<\/span>
\nHere\u2019s the daily SPX chart. It\u2019s been a tight range for 4 days. I hate news-induced breakouts, so I\u2019m hope today\u2019s announcement has little effect on the market and tomorrow is when the real move begins.<\/span>
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\nheadlines at Yahoo Finance<\/a><\/span>
\nstocks to watch from MarketWatch<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nyesterday’s Sector Performance<\/a><\/span>
\nthis week’s Earnings Reports<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\nopen a real-time futures demo account at…<\/span>
\n\"\"<\/a>
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