Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Tuesday, January 29, 2008

Will the Fed cut again?

Stocks made another gain Tuesday, as each index finished in the positive. Two consecutive days with gains really has me with a smile on my face. Investing pros are expecting a half percentage-point cut in the Fed's key rate target, to 3%, on Wednesday but could be disappointed if it is anything less. Late in the trading day, the House of Representatives passed a recently proposed stimulus package of tax rebates by a landslide vote of 385-35. But the bill faces an uncertain future in the Senate, where officials may change the package's details in ways that House members or President Bush find unacceptable. DJIA +96.41 Nasdaq +8.15 S&P 500 +8.33