Fed Makes A Big Cut, GOOG Goes up 1.9%
To the market’s surprise, the Fed cut by .5% today, sending stocks soaring. Google was up on the news too, by about 1.9%.
It’s not clear how the Fed’s actions will affect Google much, but I don’t see this news creating a particularly good or bad buying opportunity for GOOG. If anything, it makes it a little pricier since interest rates don’t affect Google that much (it may affect some of its advertisers, but probably not that many since most are internet companies).