Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Monday, December 10, 2007

Stocks rallied early Monday morning and held throughout the day. Investors seem to agree that there will be a rate cut tomorrow but the question seems to be how much of a cut it will be. UBS surprised investors Monday by announcing a further $10 billion in write-downs, which will lead to a fourth-quarter loss and could wipe out all its profits for the year. Crude-oil futures dropped 42 cents, down to $87.86 a barrel. With the Fed meeting and a possible rate cut, Tuesday should be quite interesting. DJIA +101.45 Nasdaq +12.79 S&P 500 +11.30