« MetLife posts flat earnings per share (Reuters)
Oil surges 5 percent to record $95 a barrel (Reuters) »

Stocks leap higher after Fed rate cut (AP)

Traders Earl F. Counter, left, and Lance C. Frericks signal in the Standard & Poor's 500 futures pit at the Chicago Mercantile Exchange in Chicago on Wednesday, Oct. 31, 2007. The Federal Reserve, confronted with surging oil prices and a slumping housing market, cut a key interest rate by a quarter-point in an effort to stimulate economic activity and keep the country from dipping into a recession. It was the Fed's second rate reduction this year. (AP Photo/Charles Rex Arbogast)AP - Wall Street bounded higher Wednesday after the Federal Reserve lowered interest rates as expected and said risks to the financial markets from the summer’s credit crisis have eased. The Dow Jones industrial average gained more than 130 points on the day.

Original post by Yahoo! News: Business

This entry was posted on Wednesday, October 31st, 2007 at 3:46 pm and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

You must be logged in to post a comment.