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Dow Jumps 261, Ends Week Up

Eased worries on liquidity nearly erase yesterday's dive

By Nick McMaster, Newser Staff

Posted Mar 20, 2008 3:54 PM CDT

(Newser) – Stocks enjoyed a steady rally today off of surprisingly good manufacturing data and renewed investor confidence in Fannie and Freddie Mae, achieving the first weekly gain in a month, since the market is closed tomorrow, the Wall Street Journal reports. The Dow rose 261.66 points, ending at 12,361.32; the Nasdaq gained 48.15 points to 2,258.11; and the S&P 500 added 31.09 to close at 1,329.51.

This week’s key worry of a liquidity crisis has been somewhat eased by the Fed’s three-quarter-point rate cut and loosening of restrictions on Fannie and Freddie. The Philadelphia Federal Reserve said local manufacturing increased in March, reversing a string of regional declines. Nike posted an unexpected 32% jump in quarterly profit, and the dollar rose against the pound and euro.

A trader looks at his monitor before the opening bell on the floor of the New York Stock Exchange, March 20, 2008. (Getty Images)

Traders work computers on the floor of the New York Stock Exchange March 20, 2008 in New York City. (Getty Images)

The Fannie Mae building in Washington, in this May 2, 2007 file photo, in Washington. (AP Photo/Manuel Balce Ceneta, file)

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Dow Jumps 261, Ends Week Up

Eased worries on liquidity nearly erase yesterday's dive

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Rally Loses Steam; Dow Off 32

Freddie Mac sees shares rise 122% on earnings

Bailout Rally Tails Off Late

Persistent worries about the non-financial economy temper gains

Stocks Mixed as Oil Surges

Georgian conflict raises supply fears; analysts downgrade financials

Modest Gains From Mixed Day

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Financials Skid, Spark Sell-Off

Financials plummet on the prospect of a GSE bailout

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Dow Jumps 261, Ends Week Up

Eased worries on liquidity nearly erase yesterday's dive

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OTHER STORIES ON OUR RADAR

NASDAQ • Dow Jones • Nike • Freddie Mac • Fannie Mae • S&P 500 • Philadelphia Federal Reserve

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Rally Loses Steam; Dow Off 32

Freddie Mac sees shares rise 122% on earnings

Bailout Rally Tails Off Late

Persistent worries about the non-financial economy temper gains

Stocks Mixed as Oil Surges

Georgian conflict raises supply fears; analysts downgrade financials

Modest Gains From Mixed Day

Fannie, Freddie continue to bleed out; H-P brightens tech sector

Financials Skid, Spark Sell-Off

Financials plummet on the prospect of a GSE bailout

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Newser By Users

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