FOMC leaves rates unchanged and expects to keep them there for an extended period

A weaker dollar helped put stocks in higher ground in the early going, but broader market support faded in the wake of the latest statement from the Federal Open Market Committee (FOMC).

Early gains were broad based as the dollar dipped as much as 0.4% against a basket of foreign currencies in the early going. The Nasdaq was even able to log a fresh 52-week high.

However, support for stocks started to fade ahead of the latest FOMC directive and then buckled in the report's wake.

The FOMC stated that economic activity has continued to pick up and that deterioration in the labor market is abating. The FOMC also expressed that conditions in the financial markets are improving, so some of the Fed's special liquidity facilities will soon end as planned.

More notably, the FOMC indicated that the target range for the federal funds rate will remain at 0.00% to 0.25% and that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels of the federal funds rate for an extended period. The overall language in the statement is consistent with previous statements, so it helped calm concerns that the Fed may look to raise interest rates sooner than later.

Intention

This blog was created for the intention to guide the new comers. However, i am busy in some other blogs which i currently engage on.

But, just to update all of you. I am not teaching and holding any seminar for now.

but, i am working on new projects ...and i am working for someone now. Cool like?
I am enjoying the working life. but, no worry, i will be back conducting workshop in the future, but not in the near term though. so, stay put and good luck.

Don't rush...money is all over the place.

Long time ago

Its been long time i didn't log in into this blog...umm, cause i am working on other blogs now. A small project which i long for. Hehe... lets see.

Good luck

Broader markets

DOW 1 year daily chart

Have a good weekend

Wondering what will be the next move for the market?...will update later

Next earnings release

AAPL April 22th after market, unconfirmed
IBM April 20th after market, unconfirmed
RIMM April 02nd after market, Confirmed
DELL MAY 28th after market, unconfirmed
EMC April 22th before market,confirmed

Today's IPO

Changyou.com CYOU 7.5 M shares initial priced at 16.

Lead Underwriter: Credit Suisse, Merrill Lynch Co-managers: Citigroup, Susquehanna Financial

Description: Chinese online game developer and operator