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American Morning

Minding Your Business: War Rally

Aired March 18, 2003 - 07:56   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


JACK CAFFERTY, CNN ANCHOR: Andy Serwer is off; Christine Romans here "Minding Your Business."
And, Christine, there's something morbidly ironic about the fact that the closer we get to the killing, the higher the stock market goes. What's going on?

CHRISTINE ROMANS, CNN FINANCIAL NEWS: Yes, welcome to Wall Street.

CAFFERTY: Yes.

ROMANS: This is the way it works. The market projects out, and it's looking for a short, fast war, and that's why the market was up 282 points yesterday -- huge rally. Almost 4 percent for the Nasdaq; the S&P 500 as well. In fact, Jack, it has been 618 points in four days for the Dow Jones Industrial Average, the best rally and the best volume that we've seen since October.

The question is: Will it last? This market can be very fickle, as you know, so we'll be closely watching today. But so far, it looks like the rally is going to continue this morning.

CAFFERTY: The Fed is meeting today. Are they going to cut rates?

ROMANS: It doesn't look like it, but there are five or six voices there who think it will cut rates, but the majority thinks it won't.

CAFFERTY: OK, Christine Romans, you'll be back later minding our business.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.






Aired March 18, 2003 - 07:56   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
JACK CAFFERTY, CNN ANCHOR: Andy Serwer is off; Christine Romans here "Minding Your Business."
And, Christine, there's something morbidly ironic about the fact that the closer we get to the killing, the higher the stock market goes. What's going on?

CHRISTINE ROMANS, CNN FINANCIAL NEWS: Yes, welcome to Wall Street.

CAFFERTY: Yes.

ROMANS: This is the way it works. The market projects out, and it's looking for a short, fast war, and that's why the market was up 282 points yesterday -- huge rally. Almost 4 percent for the Nasdaq; the S&P 500 as well. In fact, Jack, it has been 618 points in four days for the Dow Jones Industrial Average, the best rally and the best volume that we've seen since October.

The question is: Will it last? This market can be very fickle, as you know, so we'll be closely watching today. But so far, it looks like the rally is going to continue this morning.

CAFFERTY: The Fed is meeting today. Are they going to cut rates?

ROMANS: It doesn't look like it, but there are five or six voices there who think it will cut rates, but the majority thinks it won't.

CAFFERTY: OK, Christine Romans, you'll be back later minding our business.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.