Wann scharren die Bullen wieder mit den Hufen
Diese Meldung könnte der Grund für die exorbitante Kursexplosion sein:
Traders seized on a chance to get into U.S. stocks at bargain prices Tuesday. The major averages surged in the afternoon as investors brushed off a dismal report on consumer confidence that may have bad implications for the holiday shopping season.
The Dow Jones industrial average sprinted into the finish to gain 889 points, or 10.9%, to 9,065. The S&P 500 jumped 92 points, or 10.8%, to 941; and the Nasdaq soared 144 points, or 9.5%, to 1,649.
All eyes shift to the Federal Reserve on Wednesday, as the central bank wraps up its two-day meeting with a 2 p.m. policy statement. Market watchers expect the Fed to slash the federal funds rate by another half percentage point, cutting the benchmark rate to 1.0%. Early Tuesday reports surfaced that the Bank of Japan is considering a similar move, and may cut its own benchmark rate by a quarter point, news that sent the yen reeling against the dollar. The greenback was worth 97.96 yen Tuesday afternoon, up from 93.58 late Monday.
In addition to Fed-watching, investors also have their focus on the banking sector, as the Treasury Department begins to inject capital into individual firms. The initial investments are being doled out this week, and observers are waiting to see how the banks will spend the scratch. White House spokeswoman Dana Perino said the government hopes the banks use the fresh capital to ramp up lending, but the banks could hoard the cash or use it to buy cheap and acquire weakened competitors.
Late Tuesday, there were reports that the Treasury is considering expanding its Troubled Asset Relief Program to include private banks, according to TradeTheNews.com, which would make funds available to thousands of additional institutions. The Financial Select Sector SPDR (amex: XLF - news - people ), an exchange-traded fund that includes several of the firms participating in the TARP, climbed $2.07, or 15.7%, to $15.25 on Tuesday. The SPDR KBE Bank (amex: KBE - news - people ) index fund was up $3.50, or 14.0%, to $28.52.
Target (nyse: TGT - news - people ) will be in the spotlight Wednesday, after its largest investor scheduled a conference call to announce recommendations to boost the retailer's growth. Pershing Square Capital Management, which is run by well-known activist investor William Ackman and controls 10.0% of Target, has seen the value of its holding evaporate in the past several months and could renew calls for the retailer to alter its real estate ownership structure. Shares of Target posted early gains after Pershing set the conference call, before riding the market's explosive afternoon to finish at $38.51, up $5.82, or 17.8%. (See "Ackman Tries To Steady A Moving Target.")
Dow Leaps Above 9,000
Quelle: http://www.forbes.com/markets/2008/10/28/...-cx-ss_1028markets44.html