Flat Fed

The long-awaited Federal Reserve meeting occurred today, and nothing happened. They left rates the same at 5.25%. If you'd like to read the actual press release, try this link-- http://online.wsj.com/documents/info-fedparse0608.html . Markets responded by dropping from 1/3 to 1/2%. The one bright spot came after market close, and it came from technology. Cisco's earnings were flat. What's bright about that? Well, their sales were up over 20%, and this could mean good news tomorrow on NASDAQ. Dow -45.79 NASDAQ -11.65 S&P 500 -4.29