Countrywide Financial Corp. (CFC) Stock is Due for a Rise
Stocks rose unevenly Friday, largely extending the week's rally after Federal Reserve Chairman Ben Bernanke gave investors more reason to believe further interest rate cuts are on the way.
The Dow Jones industrial average rose more than 60 points after earlier rising about 120 points. But the tech-heavy Nasdaq composite index didn't join in the rally after weak quarterly results from Dell Inc.
In a speech late Thursday, Bernanke said persistently tight credit conditions, the housing slump and high energy prices will probably create some "headwinds for the consumer in the months ahead," and the central bank will have to be "exceptionally alert and flexible."
The Fed meets again Dec. 11, and a rate cut could help reinvigorate the slowing economy. Evidence of a more reticent consumer came Thursday in a Commerce Department report that showed consumer spending rising a modest 0.2 percent in October, the slowest pace in four months.
Once the Fed meets and after the cut has happened, expect this stock to shoot right back up to $20 a share. Currently, all the boutique mortgage lenders are going out of business because of the current credit crisis. The stocks to watch are the ones that will be able to push through this tough time. Countrywide Financial will be one of those issues. Today is the start of a 10 point rally for this stock.
The Dow Jones industrial average rose more than 60 points after earlier rising about 120 points. But the tech-heavy Nasdaq composite index didn't join in the rally after weak quarterly results from Dell Inc.
In a speech late Thursday, Bernanke said persistently tight credit conditions, the housing slump and high energy prices will probably create some "headwinds for the consumer in the months ahead," and the central bank will have to be "exceptionally alert and flexible."
The Fed meets again Dec. 11, and a rate cut could help reinvigorate the slowing economy. Evidence of a more reticent consumer came Thursday in a Commerce Department report that showed consumer spending rising a modest 0.2 percent in October, the slowest pace in four months.
Once the Fed meets and after the cut has happened, expect this stock to shoot right back up to $20 a share. Currently, all the boutique mortgage lenders are going out of business because of the current credit crisis. The stocks to watch are the ones that will be able to push through this tough time. Countrywide Financial will be one of those issues. Today is the start of a 10 point rally for this stock.
Labels: CFC, Countrywide Financial Corp.
posted by Stock Administrator @ 2:08 PM
1 Comments:
At 4:51 PM ,
fakepaycheckstubs.com said...
somone spammed this site on my blog and thought someone needs to say something about it! http://www.fakepaycheckstubs.com IS THIS LEGAL? No wonder why we have the subprime mess why have TODAY! When lenders USE FAKE DOCUMENTATION to help PUSH the loan through and hence MAKE thier commissions, everyone losses! This is SO dispicible and blatent!!! NOW BANKS ARE BAILING OUT THESE CROOKS??? SOUNDS LIKE Savings & Loan SCANDAL of the 80's ALL OVER AGAIN!!! See this site with your own eyes at http://www.fakepaycheckstubs.com
Post a Comment
<< Home