It’s Rally Time
June 29th, 2006 Written by KP
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Today brought a 17th consecutive rate hike and with that the markets shot up to all highs that were last seen in 2003. The Dow jumped 216 points to 11190 as all 30 companies in the Dow were positive. Throughout the beginning of the year we all thought that the Fed rate hike would bring the markets down and many are probably wondering why the markets went up. It is because the Fed’s gave the impression that this could be the last rate hike as this current hike to the interest rate to 5.25. Stocks in the USA are undervalued and this will bring a golden opportunity for outside investors to get involved with a rally that is expected to go forward. The world will be keeping a eye on the markets now.
