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September 18, 2007
Stocks Soar, DOW Up 335 Points!
by Jack Lee
Most folks expected the Feds to cut the prime rate between .25 and .50 basis points, but when the news broke today that it was the upper end of expectations, this added fuel to an already moving market and stocks really took off. A big decision by the Federal Open Market Committee fueled a big day for the stock market, said Briefing.com. Those gains were built on top of a "better-than-feared" earnings report from Lehman Bros (LEH) investment bank. LEH jumped 5.87 pts! Best Buy (BBY) was up 2.92% on good earnings and a reassuring PPI report for the month of August.
The Dow, Nasdaq and S&P all rallied better than 2.0% today.
Posted by Post Scripts at September 18, 2007 01:58 PM