- Dubai Struggles to Ease Debt Fears; Investors Rattled
- US Dollar Falls to 14-Year Low Against the Yen
- US Companies Already Moving on Curbing Emissions
- Fannie Mae to Tighten Lending Standards: Report
- Investing in Good Karma – and Making a Profit
- Retailers Should Believe in Christmas Miracles
- Bankruptcies Jump, Hitting Highest Level in Four Years
- Steepest Black Friday Discounts, Revealed
- Lloyds Gets OK for Record $22.5 Billion Rights Issue
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
MOST SHARED
- Kuoni CEO Sees Recovery in Travel Sector
- Dubai Struggles to Ease Debt Fears; Investors Rattled
- Gold Retreats from Record High as Dollar Rebounds
- China Unveils Carbon Target Ahead of Copenhagen
- Euro Shares Record Biggest Drop in 7 Months
- Hyundai-Kia Targets Rapid China Growth in 2010
- Great Britain, No Longer That Great: Investor
- Fannie Mae to Tighten Lending Standards: Report
- Chinese Overcapacity is Worsening, EU Chamber Warns
- US Markets Bracing for Selloff On Worries About Dubai's Debt
Text Size 
 |
Nearly 75 percent of Wall Street pros responding to the CNBC Trillion Dollar Snap Survey think the Federal Reserve did the right thing by cutting interest rates by three-quarters of a point, to 3.5%, this morning.
Another 10 percent tell us the Fed should have cut more. Sixteen percent take the opposite view, saying the Fed should have cut less or not at all today.
Almost all of those who answered our survey expect more rate cuts to come. The survey shows expectations the Fed Fund rates will be just under 2.75 percent six months from now.
That endorsement of today's rate cut comes amid deepening expectations the United States will experience an economic recession this year.
Our survey shows a 55 percent probability of a downturn in 2008. That's up from a 39 percent probability in our most recent survey three months ago.
The nation's top money managers, investment strategists and professional economists overwhelmingly expect stocks to eventually rebound.
97 percent say the current stock market weakness will prove to be a buying opportunity over the period of a year or more.
But the consensus forecast for the S&P 500 stock index this year is down from a 6.64 percent gain at the beginning of the month to an advance of just 2.76 percent.
Currently, the benchmark index is: [.SPX
Loading...
()
]
Print
Email
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
- Ever wished your cab driver would stop nattering and just get to where you're going? Well that moment is near(er).
- Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- More shoppers than ever plan to comparison-shop this season. Who will benefit?
- It may be the most unusual guide to business you'll read.
Data is a real-time snapshot *Data is delayed at least 15 minutes