Tuesday, September 18, 2007

U.S. stocks close sharply ahead, Dow scores biggest gain in years

4:06 pm ET Sep 18, 2007

DJIA

13,739

+335.97

S&P

1,519

+43.13

NASDAQ

2,651

+70.00

10Yr

4.48%

+0.010

U.S. stocks close sharply ahead, Dow scores biggest gain in years

NEW YORK
U.S. stocks surged Tuesday, sparking the Dow's greatest one-day rise in
nearly five years, after the Federal Reserve gave Wall Street what it's
been clamoring for, cutting benchmark interest rates even more than most
analysts had predicted.

The Fed: Fed cuts rates by half percentage point

WASHINGTON
In a surprisingly strong move, the Federal Reserve unanimously voted to
cut its overnight interest rate target by a half percentage point to
4.75% Tuesday, citing turmoil in financial markets as a threat to
economic growth.

Home builders offer price cuts to attract jittery buyers

BOSTON
Residential builders are launching promotional price reductions and
other incentives in a bid to attract anxious homebuyers and move
standing inventory off their books.

Futures Movers: Crude futures move further into uncharted territory

SAN FRANCISCO
Crude-oil futures moved further into uncharted territory late Tuesday
afternoon by topping $82 a barrel in electronic trading, buoyed by
ongoing concerns over potential storm risks in the Gulf of Mexico,
expectations for fall in U.S. supplies and bets that the Federal
Reserve's decision to cut interest rates will help boost energy demand.

Lehman's quarterly net slips but tops expectations; shares gain

NEW YORK
Lehman Bros. Holdings Inc. reported Tuesday third-quarter net income
fell 3.2% as the investment firm took more than half a billion dollars
in writedowns for troubled fixed-income securities.


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