The sun over Wall Street by Claudia Sonea

Stock market has passed through a tremendous series of losses that disestablished it. However, last week Wall Street rose sharply and mostly because of high expectations regarding Federal Reserves' decision on cutting rates, lower interest rates. Fed Chairman Ben Bernanke despite the traders' opinion he will reveal during a speech to Germany's Bundesbank Fed's next move, he kept on talking about something else, about the globe to cooperate toward economic stability. According to Wall Street a rate cut will help bolster the U.S. economy and ease problems caused by tightening credit availability. It is necessary to lower interest says Steven Goldman, chief market strategist, Weeden & Co., who believes that more rate cuts will have to take place if they want to stabilize stock market. Housing, unemployment, decrease of retail prices and debt aversion made the stock market to be volatile. Mark Zandi, chief economist at Moody's Economy.com forecasts a new wave of recessions in the next six to 12 months. The U.S. economy slipping into recession got was calmed down by the Commerce Department's report on the U.S. trade deficit. The Dow rose 180.54, the Standard & Poor's 500 index rose 19.79, or 1.36 percent, Nasdaq composite index rose 38.36, only bonds suffered because being the only source of getting money easily, they were the first to go. More bad news for the dollar, that is losing ground in face of the euro and the British pound. Crude oil jumped 74 cents to $78.23 after OPEC agreed to boost its crude output by 500,000 barrels a day in an effort to calm markets unnerved. OPEC was expected to keep current output targets in place. European equity markets did not have a favorable forecast for the annual economic growth. The European Commission is reducing the growth due to the fear that region's economy will reach its peak as tighter credit conditions raise the risk of a global slowdown. More to come on this subject…

related story: http://news.yahoo.com/s/ap/20070911/ap_on_bi_st_ma_re/wall_street;_ylt=AtvORVsjI7kM2Bd9rmS7.L.s0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.