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September 5, 2008 11:36:49 PM CDT

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Another Day, Another Rally

Posted Jan 29, 08 3:43 PM CST in Business 

(Newser) – Stocks rose for a second straight session today thanks to a late rally. Flagging techs dragged down the markets initially, but then got a boost from a cheerful report on durable goods orders on the first day of the Fed meeting, reports CNNMoney. The Dow climbed 96.41 to 12,480.30, the Nasdaq 8.15 to 2,358.06, and the S&P 8.33 to 1,362.30

Meanwhile, investors continue to hope the 2-day Fed meeting will produce another interest-rate cut, but some analysts doubt that they'll be satisfied. "I think that the Fed will end up disappointing investors tomorrow with the size of the cut and the language in the statement," one expert says.

Sources CNN, Wall Street Journal, Bloomberg, Financial Times (UK)

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Stocks extended their rally today.   (Getty Images (by Event))
Stocks extended their rally today.   (Getty Images (by Event) Individuals)
A trader works on the floor of the New York Stock Exchange.   (Getty Images)
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