Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 9, 2008 11:18:17 AM CDT

Learn about Newser Points »

Back to the grid

Bernanke Buoys Dow

Posted Mar 6, 07 11:04 AM CST in Business    Editor's Choice

(Newser) – U.S. stock prices rebounded yesterday, buoyed by Fed Chairman Ben Bernanke's forecast of moderate growth. But averages from Singapore to London continued to slide and there was widespread debate over whether the plunge was the market correcting for inflated highs or if it was the first sign of a recession.

Tuesday's massive drop wiped out all gains tallied so far this year, but yesterday's gain returned the market to nearly break-even status. "It looks like whatever happened was anomalous," said administration official Edmund Lazear, but futures traders are betting on Fed rate cut, which is usually a response to an economic slowdown.

Source Reuters

Related News

  • Fed Ponders Pause in Rate Cuts—After 1 More

    Apr 24, 08 10:05 AM CDT
    Fed Ponders Pause in Rate Cuts—After 1 More The Federal Reserve may be ready to cool its torrid rate-cutting after a likely .25% percentage point cut at its meeting next week, the Wall Street Journal reports. Futures markets are betting Chairman Ben Bernanke is unlikely to rest just yet, with little change in the month-to-month economic picture, but will pause after that to assess the cuts' effect and avoid stoking inflation. More »

  • Bernanke: Adjustment Is Mostly Over

    Apr 2, 08 10:24 AM CDT
    Bernanke: Adjustment Is Mostly Over Ben Bernanke for the first time acknowledged the possibility of a US recession, but he also voiced optimism that “much” of the adjustment period was over, the Wall Street Journal reports. His testimony before Congress seemed to suggest an end to aggressive stimulus measures—noting that rates had already been cut “substantially” and inflation was still a “source of concern.” More »

  • Consumer Spending Stalls Again

    Feb 29, 08 12:03 PM CST
    Consumer Spending Stalls Again Consumer spending rose more than expected in January—but only because prices did so as well, Bloomberg reports. Adjusted for inflation, spending remained flat for the second straight month. With fuel costs rising, banks restricting loans, and property values falling, “consumers are clearly hard-pressed to maintain their standard of living and are cutting back,” says an analyst. More »

  • Bernanke Signals New Rate Cuts

    Feb 27, 08 9:15 AM CST
    Bernanke Signals New Rate Cuts Federal Reserve Chairman Ben Bernanke today said that the board stands ready to cut interest rates again to give the economy "adequate insurance against downside risks," reports the Wall Street Journal. The move, which follows 2.25% in cuts to the key rate since September, is widely expected at the Fed's March 18 meeting. More »

  • Wholesale Inflation Surges

    Feb 26, 08 10:06 AM CST
    Wholesale Inflation Surges Wholesale prices rose more than twice as fast as analysts predicted in January, in the latest sign that inflation is outstripping growth, Bloomberg reports. After a 0.3% drop in December, finished good prices rose 1% last month, with the core indicator up 0.4%, its biggest gain in almost a year. Fed chief Ben Bernanke will discuss the inflation statistics tomorrow when he delivers a policy report to Congress, MarketWatch notes. More »

Brokers view reports on stock monitors during trading at the New York Stock Exchange.   (Associated Press)
prev    next
play

Threads (1 of 3)

Tags

US economy  • stock market  • recession  • Ben Bernanke  • inflation  • stocks  • money


Loading...

Loading...

Related Threads: The Dow, The Markets, Ben Bernanke

Next story from this section »

Today's Most Popular


Other Home Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »