Yesterday was a quite amazing day for stock market. The US market (Dow, S&P, and Nasdaq) went up the most in 5 years, after the dear friend of Wall Street (Mr. Ben Bernanke) cut the interest rate by 0.75%. Here are details in the news (Dow 416 points gain, Fed rate cut sends market soaring). This means the interest rate lowered from 5.25% to 2.25% since last Sept. That’s 300 basis points in 6 months!. While I was happy to see my little portfolio went up 4.8% yesterday, I think the US dollar will worth less and less (vs. Yuan), considering the reckless US economy policy and the fundamental problems underlining the economy (high labor cost, addition to consumer spending, etc.).
(Source: Kansas City Star)
Incidently (remember March 17 is St. Patrick’s day, the green), yesterday I received an email from USCIS telling me that my permanent residency application has been approved (after almost 6 years). I don’t think too much of this green card thing, at least that’s what I felt when I went to work this morning (see I still got to work).