每日市场点评 - Oct 9, 2007

All three major averages moved sharply higher after the release of the Fed minutes. Nasdaq is now back above 2800, a level that hasn\'t been touched since Jan 2001. The minutes didn\'t really indicate that the Fed is going to make further cuts. Any future policy decision will be dependent on economic data, which really says nothing. Currently the market is still optimistic that there is a good chance the Fed will at least make one more cut before the year end. However, as I mentioned before, if the economic data are not as gloomy as some economists suggest, the Fed may disappoint the market. This is one of the biggest risks for the next few weeks(remember the Fed won\'t care whether a company is reporting good or bad numbers). Today\'s trading volume is on the light side. Both Gold and Oil prices have a rebound after yesterday\'s drop. With Alcoa being the first Dow component to report earnings tonight, we are officially entering the earning\'s season. Again, guidance is more important than actual numbers.