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March 28, 2006
Pre-FOMC announcement rally, Tues., Mar. 28, 2006, 1:12 PM
Even with crude oil contracts rocketing up over $1.50 to almost $67 a barrel, and U.S. consumer confidence reported as being very strong, nothing much was happening in equity markets at noon. Then, suddenly, due to rumor or whatever, the broad market indexes all took off to the upside. Please explain.
One look at the leader board shows a lot of support for the reflation argument, which is to say that oil & gas, real estate, and construction materials are going to be helped if money supply grows rapidly.
Perhaps that's the Bernanke Plan. We'll just have to wait an hour or so to see.
Posted by Posted by Bill Cara on March 28, 2006 01:12:14 PM | Category: Cara Today in the Market
Speak softly and carry a big printing press.
Posted by: josh![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
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March 28, 2006 2:01 PM [link]