Tuesday, October 09, 2007
U.S. stocks close with new records on Fed words
4:05 pm ET Oct 9, 2007
DJIA
14,164
+120.80
S&P
1,565
+12.57
NASDAQ
2,803
+16.54
10Yr
4.65%
+0.013
U.S. stocks close with new records on Fed words
NEW YORK
U.S. stocks climbed, with the Dow Jones Industrial Average and the S&P
500 both closing at new highs, after the release of Federal Reserve
commentary cemented thinking of another interest-rate cut ahead.
The Fed: FOMC's next rate moves to hinge on economy, minutes show
WASHINGTON
With the economic outlook uncertain in the wake of the market's turmoil,
Federal Reserve officials unanimously agreed last month that a
half-point rate cut was prudent, but said only that future actions would
hinge on how the economy fared in coming weeks, according to a summary
of the Sept. 18 meeting released Tuesday.
