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Tuesday, March 18, 2008
Financial give indexes a hefty boost
The financial sector helped provide a very strong (and much needed) rally Tuesday. The day got off to a good start with two investment-banking giants reporting positive earning results and was lifted in the afternoon by the Feds 75 basis point cut of the key lending rate. Investors gained a little peace of mind when Goldman Sachs and Lehman Brothers released earning results that didnt have any bad surprises. While analysts were once again split on their opinions regarding the Fed's move. Some think it is necessary to help bring stabalization, while others believe it will only spur higher inflation.
DJIA +420.41 Nasdaq +91.25 S&P 500 +54.14