Thursday, January 31, 2008

US Market Summary 30 Jan 08

Dow 12,442.83 -37.47 -0.30%
Nasdaq 2,349.00 -9.06 -0.38%
S&P 500 1,355.81 -6.49 -0.48%

A still-anxious Wall Street closed lower Wednesday, sacrificing the advance it made after the Federal Reserve cut interest rates half a percentage point. Investors collected profits after nearly three sessions of big gains, unwilling to leave money on the table amid ongoing economic uncertainty.

We can really see from the US Market closing that people are still not confident about the current market and choose to cash in on profits, instead of buying up.
Although Fed cut interest rate by half a percentage point, this is already expected and thus factored in the last few trading days.
We will expect a roller coaster ride of volatility these few days, thus it is better to trade intra day to be on the safe side. Follow the market trend and go with the market sentiments.

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