Its been a record run this year so far for the Markets, but are they Inflated. The Dow went over 14000 for the first time the year, the S&P also went over 6 1/2 year highs. The NASDAQ however is still running at fifty percent of what it used to be in the hay day of tech stocks dominating the market. Yesterday after FED chairman Ben Bernanke cut rates the market was acted as if he waved a magic wand. The Dow Jones was up 2.5 percent or 335.97. The S&P was up 2.9 or 43.13 , and the NASDAQ was up 2.7 or 70.00.
The Federal Reserve cut its overnight interest rate target by half a percentage point to 4.75%, citing turmoil in financial markets as a threat to economic growth. It also cut the discount rate by a half percentage point to 5.25%
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