Wednesday, September 19, 2007
U.S. stocks higher, basking in afterglow of Fed rate cut
DJIA
13,815
+76.17
S&P
1,529
+9.25
NASDAQ
2,666
+14.82
10Yr
4.52%
+0.044
U.S. stocks higher, basking in afterglow of Fed rate cut
NEW YORK
U.S. stocks closed higher Wednesday, capping a rally that thrust the Dow
industrials to near two-month highs, amid optimism sparked by the
Federal Reserve's larger-than-expected answer to Wall Street's call for
a cut in interest rates.
Futures Movers: Crude futures end at fresh high near $82 on supply fall,
Fed cut
SAN FRANCISCO
Crude-oil futures closed at a new all-time high near $82 a barrel
Wednesday, lifted by news that U.S. crude supplies have been falling
since late August and expectations that the Federal Reserve's interest
rate cut will boost energy demand.
Emerging Markets Report: Emerging markets rally on Fed rate cut, as risk
appetite returns
NEW YORK
Emerging-market equities around the world rallied Wednesday, led by a 7%
surge in Turkish stocks, as the Federal Reserve's larger-than-expected
rate cut whetted investors' appetite for risk.
Rule change lets Fannie, Freddie buy more loans
WASHINGTON
In a bid to help struggling subprime-mortgage borrowers, the federal
regulator for Fannie Mae and Freddie Mac said Wednesday it will allow
the two huge companies more buying power in the mortgage market.
Southwest assigns boarding places, but keeps open seating
SAN FRANCISCO
Southwest Airlines Co. unveiled changes to the way it gets passengers
onto airplanes on Wednesday, but said that passengers will still pick
their seats when they board.
