DAVE HARRIS: Welcome to the Dave On Stocks Podcast #74. It's Tuesday September 11, 2007. We are, of course, remembering those events of 6 years ago today. At my home, we put up the US flag in remembrance. With that said, business on Wall Street was good for the bulls today. I'm Dave Harris. I'm a long term investor with a perspective on the market and individual stock advice.

Will the Fed cut, or won't they? That's the big question on Wall Street these days. Today, the camp that thinks they will cut (that includes me) had the upper hand as the major averages ended higher. The Dow Jones industrials gained 180.54 points to close at 13,308.39. The broader S&P 500 gained 19.79 at 1471.49. The NASDAQ closed up 1 and a half percent, or 38.36 higher, to finish at 2,597.47. Bond prices fell. The 10 year note fell 10/32 putting the yield up to 4.36 percent.

Investors had a close eye on what Fed Chairmen Ben Bernanke would say to Germany’s Bundesbank today and if it would shed more light on the widely expected cut in the Fed funds rate. I think the market has already priced in the rate cut. The Fed must cut in my view. After Friday's jobs report, it's obvious the economy needs a boost in the form of a rate cut. The credit crunch and housing troubles are taking its toll on the economy.

But Bernanke didn't speak about rates, mostly about trade balance. Perhaps its best he didn’t speak rates because, often times, that's when the market gets ugly. Sometimes we’re better off when Bernanke says nothing. According to the Commerce Department, the nation's July trade deficit narrowed to $59.2 billion from the previous month's $59.4 billion. That was a surprise to most analysts. It's nice to have a good piece of economic news after Friday’s discouraging jobs report.

Apple (AAPL) lost 1.22 to close at 135.49. Yesterday, the stock gained almost 4 percent after the company's announcement they already sold 1 million iPhones. That's slightly ahead of schedule. I still have a buy on the stock and think it's going to $170 per share.

McDonald's (MCD) had a great performance in August. Overall same store sales went up 8.1 percent. I'm particularly impressed with the 7.4 percent increase here in the states. This is the type of stock to be in for these uncertain times. MCD closed up 1.61 to $51.76.

Chip maker Intel (INTC) said third quarter sales would be higher in the range of $9.4-$9.8 billion on solid demand for its chips. The stock was one of the most active today and rose .31 cents to 25.66 per share. That stock is a buy.

Expect more volatility until the big September 18^th meeting. Meanwhile that's all for today's podcast of Dave On Stocks. I'm Dave Harris. I'll talk to you again soon. Write me with any questions or comments at the "comments" link on this page. My website is www.daveonstocks.com.