Airtime: Wed. Jun. 23 2010 | 2:15 PM ET
The Federal Reserve decides to keep Fed funds rates unchanged. Insight with Ken Volpert, Vanguard Funds; Bill Gross, Pimco co-founder; CNBC’s Steve Liesman & Hampton Pearson.
Friday marked Day 4 of a new rally attempt for the benchmark S&P 500 Index and Day 2 for the other major averages. That said, as long Tuesday’s lows are not breached in the S&P 500, the window is now opened for a proper follow-through day (FTD) to occur. However, if at anytime Tuesday’s S&P 500 Index lows are breached, then the day count will be reset. What does all of this mean for investors? Simple, the market remains in a correction which reiterates the importance of adopting a strong defense stance until a new rally is confirmed. Trade accordingly.
Ngozi Okonjo-Iweala, managing director of World Bank, forecasts developing countries will grow 6% in 2010, twice the rate of developed countries. She speaks to CNBC’s Chloe Cho about the imbalances in global growth.
About half of the FOMC now sees risks tilted to the downside, reports CNBC’s Steve Liesman. Zane Brown, of Lord Abbett, and James Bianco, of Bianco Research, share their views.
“Letting Greece down would have been similar to the mistake of letting Lehman Brothers down at the time,” Hungarian Prime Minister Gordon Bajnai told CNBC Friday after a deal was reached to backstop the country’s debt
Warren Buffett and Charlie Munger’s shareholder Q&A is as democratic as it gets for investor meetings, with Andrew Ross Sorkin, The New York Times and Carol Loomis, Fortune Magazine.
The Fidelity China Special Situations Fund launched Monday and has managed to raise £460 million. Tom Stevenson from Fidelity told CNBC it was the biggest emerging market fund launch in the last 20 years.