Friday, October 05, 2007
U.S. stocks end with solid weekly gains
DJIA
14,066
+91.70
S&P
1,557
+14.75
NASDAQ
2,780
+46.75
10Yr
4.64%
+0.117
U.S. stocks end with solid weekly gains
NEW YORK
U.S. stocks bounced higher Friday, with the S&P reaching an all-time
high and the major indexes scoring solid weekly gains, after the
much-awaited jobs report offered as-expected growth in September and a
surprise upward revision to past counts, calming worries about the
economy.
The Fed: Half-point interest-rate cut may be enough, Fed's Kohn says
WASHINGTON
The Federal Reserve's Sept. 18 interest-rate cut of half a percentage
point may be enough to keep the U.S. economy from sinking as a result of
the financial markets' recent turmoil, Donald Kohn, vice chairman of the
central bank, said Friday.
Microsoft appoints new executive to oversee Zune
SAN FRANCISCO
Microsoft Corp. named a new executive Friday to oversee its Zune media
player, following the release of a new lineup of the devices meant to
compete more effectively against Apple Inc.'s dominant iPod.
The Fed: Further Fed rate cuts not baked in the cake, economists say
WASHINGTON
The strong September jobs report and cautious comments from Federal
Reserve officials have left Fed watchers with the sense that further
interest-rate cuts are not necessarily baked in the cake.
Economic Report: September rebound for U.S. nonfarm payrolls, up
110,000
WASHINGTON
The U.S. unemployment rate rose to 4.7% in September, the Labor
Department reported Friday, but government data showed job growth was
stronger than expected over the past three months, putting further
interest-rate cuts by the Federal Reserve in jeopardy.
