The more than 400 point gain in the Dow overnight seems to be a "relief" or short covering rally as the Fed comments confirm weak US economic outlook
Wednesday, 10 August, 2011 8:40 AM
Posted by Kevin Scully
Looks like our 46th National Day was timely because our stock markets were closed when the US markets had a huge sell off on Monday and we were spared declines of another 3-4% that was experienced by markets in North Asia such as Hong Kong which at one point was down more than 1500 points.
Lets look at the more than 400 point gain the Dow overnight. This was due primarily to comments from the FED that they would keep US interest rates low for another two years to 2013. This confirms that the US economy is weak and more importantly that the US Government may not have sufficient ......
