Stockhouse @ the Bell: Stocks soar on Fed rate cut shocker

Today on Stockhouse

Your opinion matters. Submit an article to Stockhouse today at submissions@stockhouse.com. Submission guidelines can be found here.

Never forget the old caveat: buyer beware! says Dr. Joe Duarte.

How to be a better junior resource investor: Part I, from Michael S. (Mickey) Fulp.

Troy Schwensen explains that gold stocks have hit unprecedented oversold levels.

Forward rates on silver, gold, slide to (and below) zero, says Thom Calandra in today’s ThomWatch.

Buzz on the Boards stopped in to observe conversation on the Bank of Montreal(TSX: T. BMO, Stock Forum) Bullboard and the San Anton Resource Corporation (TSX: T.SNN, Stock Forum) Bullboard.

Top Bullboards post:“Mortgage rates are going down down down, can the go even lower??? A lot of money was made in real estate in the 1970's and early 1980's by those who played their cards right. I wounder if cheap mortgage rates will cause house prices in Canada to go up 2-4 fold next decade like they did in the 1970's?...” – From DividendGuy1 on the Royal Bank of Canada (TSX: T.RY, Stock Forum) Bullboard.

Top Bullboard: Oilexco (TSX: T.OIL, Stock Forum) was once again the most posted Bullboard on Stockhouse, with nearly double the number of posts as the second most posted board, Horizons BetaPro NYMEX Crude Oil Bull Plus ETF (TSX: T.HOU, Stock Forum).

Top blog:littleguy123 commented on the U.S. Fed’s rate decision on the Outside the Market blog Tuesday.

For news about small stocks that made big moves in Tuesday trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.

Word on Wall Street

"If the Fed announces more stimuli, either directly into banks or buying debt from Fannie or Freddie, it could spur the market higher," Marc Pado, U.S. market strategist at Cantor Fitzgerald told MarketWatch.

After-Hours News

Adobe Systems (NASDAQ: ADBE)
After Tuesday's close, the Internet and design software maker said its fourth-quarter net income increased to $245.9 million, or 46 cents a share, from $222.2 million, or 38 cents a share, during the same period a year ago. Revenue rose to $915.3 million from $911.2 million. Adobe said that excluding special items, earnings for the period were 60 cents a share. Analysts expected earnings of 57 cents a share on $917.7 million in revenue.

Detour Gold (TSX: T.DGC)
The miner, after Tuesday's closing bell, reported assay results for an additional 37 holes totaling 16,756 metres from its Phase II and III infill drilling program at its 100% owned Detour Lake project in northern Ontario, which included 4.19 g/t (uncut), or 2.48 g/t (cut), over 118.0 metres.

Today In The Markets

Stocks surge as Fed cuts rate, vows to do what is necessary to combat recession

DJIA	8,924.14	359.61
NASDAQ	1,589.89	81.55
S&P500	913.18	44.61
S&P/TSX	8,724.11	262.28
S&P/TSX Venture	723.46	6.65

TORONTO, NEW YORK (CP) - Stock markets closed sharply higher Tuesday after the U.S. Federal Reserve cut its key interest rate to a range of zero to 0.25 per cent - a record low, and down from the one per cent target in place since October.

In Toronto, the S&P/TSX composite index moved up 262.28 points to 8,724.11 as all sectors except health care turned positive. The TSX Venture Exchange was up 6.65 points to 723.46.

New York's Dow Jones industrial average ran ahead 359.05 points to 8,924.14. The Nasdaq composite index gained 81.55 points to 1,589.89 while the S&P 500 index rose 44.61 points to 913.18.

Please click here for the complete U.S. and Canadian market summaries.