Dow Surges 400 Points Behind More Fed Cuts

There aren't any stern bears in this circus.

Reacting to news of a .75% cut in a key interest rate by the Federal Reserve, Wall Street partied like it was last March, sending the Dow Jones Industrial average up by over 400 points today.  Also helping were better than expected numbers from big banks Lehman Brothers and Goldman Sachs, easing the markets' concerns after the implosion of Bear Stearns and its buyout by JPMorgan.

This can also be good news for the housing market, if it helps to push mortgage rates lower and opens the credit spigot a little bit.  We'd love to think that we've gotten through the worst of the housing crisis, and even have signs of hope as we've already been seeing a sharp rise in searches for real estate for sale on HotPads.