Friday, February 19, 2010
Market Commentary- Week In Review:

Stocks rallied on this shortened holiday week as investors digested a slew of economic and earnings news. On Tuesday, stocks rallied after the NY Fed released its Empire State Mfg index which topped the Street’s estimates. This was the fastest reading in four years and the first manufacturing report that was released in February. The stronger than expected results suggest that business conditions are improving which bodes well for the economic recovery. Stocks edged higher on Wednesday after the Federal Reserve released the minutes of last month’s Fed meeting. The minutes showed that Fed officials debated how and when to shrink the central bank’s $2.26 trillion balance sheet. The minutes also showed that some officials want to begin selling assets in the “near future” while others are more content to wait until the economy stabilizes.
Fed Unexpectedly Raises Rates From +0.50% to +0.75%:

Continue reading