CRAMER:
Expect ‘Mass Panic’ in Markets Friday?
Published: Thursday, 26 Aug 2010 | 3:18 PM ET
If Wall Street’s reaction to Friday’s gross domestic product report is anything like its reaction to other economic data points, Cramer said during Thursday’s Stop Trading!, expect a sell-off of some kind at the open.
“I’m predicting mass panic tomorrow morning,” he said, mocking skittish investors, “market looking down 15 ticks.”
REALITY:
Stocks gain as Bernanke, GDP reassure investors
Aug 27 03:39 PM US/Eastern
By SETH SUTEL and J.W. ELPHINSTONE
AP Business Writers
NEW YORK (AP) - The news on the economy wasn't great Friday, but it could have been worse. That was enough to send investors charging out of Treasurys and back into stocks.
The Dow Jones industrial average and other market barometers all gained more than 1 percent after the government slashed its estimate for second-quarter economic growth, but not by quite as much as economists had expected.
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