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POWERSHARES QQQ TRUST SENIOR 1 ETF (QQQQ) 43.44 -$0.22 (-0.50%) 05:02AM (15 mins delay)

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Central Bankers Kick into Action

Jun 24, 2009 - 10:19 AM EDT

Bill Cara submits:

[Excerpted from Bill Cara's Daily Report]

If Tuesday stemmed the global flood tide of equity prices, Wednesday will be even better. Surprised at the extreme negative reaction to the World Bank report on recession, and its likely impact on commodity prices, central bankers kicked into action. The European Central Bank unveiled a Euro443 billion one-year re-fi program at 1%, which will provide the funds needed to relieve pressures in the credit markets. Equity prices and commodity prices are now expected to lift.

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Source: Seeking Alpha (Jun 24, 2009 - 10:19 AM EDT)