Equities could swing higher on Friday with the release of new employment numbers.It was one of the stranger market moves of the year in an already strange week.
What happened? "Volume was intense on the initial selloff, but then the selling pressure stopped" and the market lifted, one trader on a large sell-side desk told me."The market was way oversold," Alec Young, Managing Director, Global Markets Research at FTSE Russell, told me. But the significant market drop this week -- 1,000 points in the Dow Industrials — may have gone a bit too far, at least for the moment.
"Market probabilities of a rate cut at the October meeting is 85% to 90%, and about 50% for the following meeting, and most of that increase is due to the weak corporate data," Guy LeBas, Chief Fixed Income Strategist at Janney, told me.
THE CRASH IS HEEEEEEERRRRRREEEEEEE. SELL BLUECHIP, BUY PUTS.
This Depression is to DeFund News Sources for Tяussia: witness intimidation: summation: absence of Malice:
::throws dollar bills:: dance, market, dance
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