Does One Word From Greenspan Really Matter?

The NASDAQ soared Tuesday with news of optimism from Alan Greenspan. This is good news for the economy, especially going into the busy holiday season.

How can one person control the fate of the stock market? If you're Alan Greenspan, sometimes a word or two, or even perhaps a nod can speak volumes.

Such was the case on Tuesday, when the NASDAQ posted its largest, one-day advance ever following an announcement by Greenspan that the Federal Reserve Bank was optimistic about the future and may not cut interest rates, at least in the short term.

Most of the popular technology stocks soared to double-digit increases when the news was announced, and across the board the optimism was shared wholeheartedly.

Some analysts also attribute the market surge to fact that the latest news seems to indicate that the presidential election is finally nearing its conclusion.

You may like these other stories...

For the first time since 2006, more than 50 percent of CFOs believe the US economy will show signs of improvement over a six-month span rather than remain the same or worsen, according to a new study from Chicago-based...
By Jason Bramwell, Staff Writer CPAs in New Jersey, New York, and Pennsylvania believe economic conditions in the United States will likely be the same one year from now, and while they predict higher business revenues...
By Jason Bramwell Managers in accounting, finance, and IT are cautiously optimistic about their hiring plans for the fourth quarter of 2013, according to a new hiring outlook survey from staffing firm Brilliant. ...

Already a member? log in here.

Upcoming CPE Webinars

Oct 30Many Excel users have a love-hate relationship with workbook links.
Nov 5Join CPA thought leader and peer reviewer Rob Cameron and learn ways to improve the outcome of your peer reviews while maximizing the value of your engagement workflow.
Nov 12This webcast presents basic principles of revenue recognition, including new ASU 2014-09 for the contract method. Also, CPAs in industries who want a refresher on revenue accounting standards will benefit.
Nov 18In this session Excel expert David Ringstrom, CPA tackles what to do when bad things happen to good spreadsheets.