- Reminders Of Just How Bad Things Are
- Rally: We're At A Very Important Point
- Key Earnings Phrase: Reaffirms Full Year Guidance
- Financials Rally A "Violent" One
- Repeat Of Financials Selloff Seems In Doubt
- Earnings: Glass Half Empty Or Half Full?
- Bulls Find No Joy In After Hours Session
- What Happened To Market? Financials Run Out Of Steam
- Are Banks Overbought?
- Big Three Financials Deliver
- Mad Mail: Buy a House – Now
- Lightning Round OT: Las Vegas Sands, CapitalSource and More
- Lightning Round: FuelCell, Microsoft, eBay and More
- Fast & Furious Trades: Microsoft, Lilly, Dow...
- Market Pans Panera Bread
- Commander Planet: Unexpected Green Trade!
- Emerging Money: These Colors Don’t Run
- Is GE the New Citigroup?
- Pops & Drops: Hershey, Pepsi...
- Credit Suisse Profit Beats Forecasts
- Gas Natural Considers Cash Bid for Fenosa
- ABB Profit Rise Hits Expectations, Ups Guidance
- European Shares Seen Lower, Results Flurry Dominates
- India's Bharti Airtel Profit Beats Forecast, Shares Up
- Singapore's MAS Ups 2008 Inflation View to 6% - 7%
- SK Telecom Profit Falls on Marketing, Outlook Weak
- Japan Exports Fall for First Time in Nearly 5 Years
- Weaker Oil Prices Lift Asian Markets, Tokyo Gains 2%

Stock traders were disappointed with the Fed statement. How disappointed? The Fed statement was excruciatingly bland. Traders looking for signs of a pause seized on this statement: "substantial easing of monetary policy to date, combined with ongoing measures to foster market liquidity, should help to promote moderate growth over time and to mitigate the risks to economic activity."
Uh, OK. Maybe. Sorry, that is not clear enough that they are done.
On top of it, those looking for a more hawkish statement on inflation were bitterly disappointed. Indeed, they repeated the statement that they expect inflation to moderate.
But the Street is VERY worried about inflation because they have seen the effect it is having on corporate profits, and although the weak dollar has been a help to profits it has gotten so weak that even stock traders are worried about it.
The result of this bland, somewhat dovish statement: the dollar drops, bonds and gold rallies, and the fear that there is nothing to moderate the rise in oil ripples through stocks--consumers like retailers and home builders have posted notable declines late this afternoon.
The good news: April is over! And it's the first up month for S&P since October! S&P up 4.9 percent, best month since Dec. 2003.
Questions? Comments?



