This is why it's often foolhardy to link the real world with the Wall Street world. The real world had one of its worst days in quite a while - a horrendous jobs report that showed unemployment jumping to 6.5 percent and a serious cash squeeze reported at GM. If the market had tanked, either one of these could have been blamed. So how do you explain away a 248-pont gain on the Dow? The NYT Floyd Norris says today's climb is based on expectations of more Fed rate cuts. But wait a minute - hasn't the Fed already done that?
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