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

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.
Oct 30
Many Excel users have a love-hate relationship with workbook links. For the uninitiated, workbook links allow you to connect one Microsoft Excel spreadsheet to other spreadsheets, Word documents, databases, and even web pages.