Fed Cuts Rates (Again)

Okay, so if you read my predictions, I was obviously wrong this time. The Federal Reserve cut rates by a half-point, which was more than the quarter-point I expected. I also predicted that, in the face of a quarter-point cut, the stock markets would be down.

Immediately following the half-point cut, the markets spiked up, with the DJIA leaping to 12,681.41 before coming back down to where it was before the announcement.