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Thread: 3/13 Market Watch: Fed Holds Rates Steady, Dow Hits 13K, Nasdaq 3K

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    Arrow 3/13 Market Watch: Fed Holds Rates Steady, Dow Hits 13K, Nasdaq 3K

    Fed stands pat, downplays pickup in economy

    Higher gas prices to only boost inflation temporarily


    WASHINGTON (MarketWatch) — The Federal Reserve on Tuesday kept interest rates at record lows and continued a program to swap assets it owns into riskier securities as the central bank downplayed the strength of recent economic data.

    The Fed’s policy statement, released after a closed-door meeting, said the economic conditions have been expanding moderately. Although the unemployment rate has declined notably, it remains elevated. While the central bank is no longer worried about business fixed investment, the statement described the housing sector as “depressed.”

    The Fed noted that gas prices would push inflation higher in the short-term but that longer-term prices would remain subdued.

    The recent increase in oil and gasoline prices will push up inflation temporarily, but the FOMC anticipates that subsequently inflation will run at or below the rate it judges most consistent with its dual mandate,” the statement said.

    Although strains in global markets had eased, they continue to pose “significant downside risks” to the outlook, the statement said. Read statement.

    Read more:

    http://www.marketwatch.com/story/fed...omy-2012-03-13
    Trust in the Lord with all your heart, and do not lean on your own understanding; in all your ways acknowledge Him, and He will direct your paths. -- Proverbs 3:5-6

    If anyone serves Me, let him follow Me; and where I am, there My servant will be also. If anyone serves Me, him My Father will honor. -- John 12:26

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    Numbers:

    Dow +112 (13,072)

    Nasdaq +32 (3,016)

    S&P +12

    Gold -13

    Oil +0.40

    Trust in the Lord with all your heart, and do not lean on your own understanding; in all your ways acknowledge Him, and He will direct your paths. -- Proverbs 3:5-6

    If anyone serves Me, let him follow Me; and where I am, there My servant will be also. If anyone serves Me, him My Father will honor. -- John 12:26

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    Fed Leaves Policy Unchanged, Sees Better Economy

    The U.S. Federal Reserve on Tuesday acknowledged recent signs of strength in the economy and said recent financial market strains have eased, offering few clues on the chances for further monetary easing.

    The U.S. central bank described the economy as "expanding moderately," unchanged from its January statement and said growth still faced significant downside risks.

    Following the announcement, U.S. stocks held gains while U.S. Treasury debt prices extended losses. Meanwhile, the dollar gained versus the euro and yen.

    Policymakers said the job market had improved but unemployment remains high, reiterating its expectation that rates would remain near zero until at least late 2014.

    Read more:

    http://www.cnbc.com/id/46720854
    Trust in the Lord with all your heart, and do not lean on your own understanding; in all your ways acknowledge Him, and He will direct your paths. -- Proverbs 3:5-6

    If anyone serves Me, let him follow Me; and where I am, there My servant will be also. If anyone serves Me, him My Father will honor. -- John 12:26

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    I Have No Choice but to Own Stocks: 'Black Swan' Author


    The U.S. economic situation is so bad, the author of "The Black Swan" said he has "no choice but to own stocks" to "preserve my financial situation."

    "I own stocks," Nassim Taleb told CNBC Tuesday. "I don’t trust Treasury bonds. I’d rather have a dividend than a coupon. I am afraid of hyperinflation. So I have no choice but to own stock and some real estate to preserve my financial situation."

    He also has "some euros," because despite the bad press, "they know the problems in Europe" but the U.S. does not.

    Taleb, who is in the process of updating his 2007 book, considers a "black swan" event to be something undirected and unpredicted. But he said the current U.S. economic problems have been years in the making, causing him to distrust the Obama administration, the Republicans in Congress and all the Republican presidential challengers — except Texas congressman Ron Paul.

    "Only one candidate, Ron Paul, is saying the right things for the issues we are facing," Taleb said. "I’m a risk-based person. From my vantage point there's only one candidate representing the right policies."

    Taleb said he believes in an America that is resilient. "You don't achieve that through bailouts," he said. "You need the economy to stay vital. You need a rate of failure. What is fragile should break early."

    Read more:

    http://www.cnbc.com/id/46718912
    Trust in the Lord with all your heart, and do not lean on your own understanding; in all your ways acknowledge Him, and He will direct your paths. -- Proverbs 3:5-6

    If anyone serves Me, let him follow Me; and where I am, there My servant will be also. If anyone serves Me, him My Father will honor. -- John 12:26

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    Spain Has ‘Worse Problems Than Greece’: Analyst

    Spain’s eye-wateringly high unemployment and the collapse of its real estate market mean that Spain has significantly worse problems than Greece and could threaten the euro zone’s new-found, albeit fragile stability, an analyst told CNBC.com Tuesday.

    “Spain has very large downside risks and it needs to tread very carefully – Spain is in a very fragile situation. Its problems are significantly worse than Greece’s,” Sony Kapoor, managing director at international think tank Re-Define said.

    He added that a “huge danger” was posed to the macroeoconomic situation and the social fabric of the country by the current austerity program and an expected 5 percent deficit adjustment.

    “The financial panic is temporarily over but 2012 will be the year of austerity across Europe and Spain is a microcosm for the euro zone as a whole,” he said.

    More at:

    http://www.cnbc.com/id/46715461

    Forget China. ‘Hard Landing’ in US, Europe: Strategist

    Developed economies are still experiencing an economic “hard landing” after the credit crunch, despite data showing small increases in gross domestic product. As a result, investors should worry more about the West than about China, which is managing its slowdown, a currency strategist told CNBC.com on Tuesday.

    Beijing announced recently that it has enough economic leeway to ease monetary policy, but it also introduced curbs to cool the real-estate sector. Those apparently mixed signals prompted some market watchers to say they were afraid of a sharp slowdown in the Chinese economy.

    "The bigger cycle we’re experiencing [in the West] is the result of the bursting of the credit bubble [in 2007]," Stephen Gallo, head of market analysis at Schneider Foreign Exchange, said in an interview. “This is what a hard landing looks like; I don’t know why people are so worried about China.”

    If central banks in Europe and the U.S. “were attacking and managing the problem” when they noticed the bubble in the property markets, the crisis would not have become so deep, Gallo said. He added that central banks could have set up rules on who could or could not get loans and used monetary policy to cool the red-hot real-estate markets.

    It will take a “very long” time for developed economies to get out of the hard landing phase as “it’s not just about deleveraging, it’s about credit channels not functioning,” he explained.

    Read more:

    http://www.cnbc.com/id/46714688
    Trust in the Lord with all your heart, and do not lean on your own understanding; in all your ways acknowledge Him, and He will direct your paths. -- Proverbs 3:5-6

    If anyone serves Me, let him follow Me; and where I am, there My servant will be also. If anyone serves Me, him My Father will honor. -- John 12:26

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    They released the bank stress test results today instead of Thursday.

    The result:

    Dow +218

    Nasdaq +56

    S&P +25
    Trust in the Lord with all your heart, and do not lean on your own understanding; in all your ways acknowledge Him, and He will direct your paths. -- Proverbs 3:5-6

    If anyone serves Me, let him follow Me; and where I am, there My servant will be also. If anyone serves Me, him My Father will honor. -- John 12:26

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    At the same time the closing rocket took off, gold fell off a cliff.

    Down 28 at this moment...
    Trust in the Lord with all your heart, and do not lean on your own understanding; in all your ways acknowledge Him, and He will direct your paths. -- Proverbs 3:5-6

    If anyone serves Me, let him follow Me; and where I am, there My servant will be also. If anyone serves Me, him My Father will honor. -- John 12:26

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    Federal Reserve set to release bank stress tests results -

    @reuters
    Trust in the Lord with all your heart, and do not lean on your own understanding; in all your ways acknowledge Him, and He will direct your paths. -- Proverbs 3:5-6

    If anyone serves Me, let him follow Me; and where I am, there My servant will be also. If anyone serves Me, him My Father will honor. -- John 12:26

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    I've read here and other places the market was supposed to tank soon and instead it keeps climbing.

    That was like a month ago.

    Gas prices booming, people cutting back all over again, and inflation at the stores.

    How is this thing continuing to fly upward???

    Kathy
    A Christian Conservative praying for our shattered Republic.

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    Quote Originally Posted by kathysvideos13 View Post
    I've read here and other places the market was supposed to tank soon and instead it keeps climbing.

    That was like a month ago.

    Gas prices booming, people cutting back all over again, and inflation at the stores.

    How is this thing continuing to fly upward???

    Kathy
    You must be new. The market has been supposed to tank soon for about four years now.
    ---------------------
    "It was believed afterward that the man was a lunatic, because there was no sense in what he said."
    Mark Twain

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