what just happened

May 01 2006 3:30 PM ET
[BRIEFING.COM] Market spikes lower going into the close after CNBC reports that Fed Chairman Bernanke said the media misunderstood his remarks last week. The news, accompanying an interview with Chicago Fed President Moskow, has weighed heavily on bonds, lifting the yield on the 10-yr note as high as 5.145%. Further deterioration in bonds has prompted even more aggressive consolidation in the influential Financial sector while CNBC also reporting that Bernanke said it is worrisome that anyone would think of him as dovish has been a catalyst behind the Technology and Consumer Discretionary sectors turning negative.
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My traders are falling over themselves trying to buy etfs and futures.

Hang on, I'll open the door to my office....

Can you hear the noise from my trading floor.

Got to go. I have buy more before the close!
 
Since I was hanging out in the "Illegal Immigrants" thread, I thought
they had just legalized the Illegals so we could have salad tonight...

Guess I was wrong...:(

Imagine a head of lettuce going up to $5...:mad:
 
U.S. stocks fall after CNBC comments on Bernanke
Mon May 1, 2006 3:41 PM ET

(Updates with stocks turning negative)

NEW YORK, May 1 (Reuters) - U.S. stocks turned lower on Monday, erasing earlier gains as CNBC Television reported that Federal Reserve Chairman Ben Bernanke had said over the weekend economic data will dictate the Fed's future action on interest rates.

The Dow Jones industrial average <.DJI> was down 18.89 points, or 0.17 percent, at 11,348.25. The Standard & Poor's 500 Index <.SPX> was down 5.65 points, or 0.43 percent, at 1,304.96. The Nasdaq Composite Index <.IXIC> was down 18.66 points, or 0.80 percent, at 2,303.91.

CNBC cited Bernanke saying the Fed was "flexible, not dovish." The report also triggered a sell-off on the bond market <US10YT=RR>.
 
Quote from stktrdr:

My traders are falling over themselves trying to buy etfs and futures.

Hang on, I'll open the door to my office....

Can you hear the noise from my trading floor.

Got to go. I have buy more before the close!
More...



Your office? Overlooking the cat box in your parent's basement? That noise you're hearing is the sump pump. Get delusional somewhere else.
 
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