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Friday Market Wrapup

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Benjamin Shepherd, 01.25.08, Friday Market Wrapup

Given the shortened trading week, we've been light on economic releases. But the biggest news wasn't a scheduled press release and came as a bit of a surprise.

Prior to trading on Tuesday morning, the Federal Open Market Committee (FOMC) announced a 75 basis point cut in the federal funds rate, taking it down to 3.5 percent. That's the first inter-meeting rate cut since just after 9/11 and is the largest one-day cut since 1984. That's not a very auspicious place in history.



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