Skip to: Content
Skip to: Site Navigation
Skip to: Search
THURSDAY, NOVEMBER 26, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


 MARKET OPENER 
0

Stocks Jump on Rate-Cut Hope

Strong opening on global rallies

Share

(Newser) – Stocks shot up at the bell this morning, powered by rallies overseas and speculation that another Fed rate cut is coming down the pike. The Dow rose 239, while the S&P and Nasdaq saw 2.9% and 3.3% jumps respectively. Hong Kong’s Hang Seng in particular saw a dizzying 14.4% jump after a grisly day yesterday, though one market watcher warned that Asia’s “trading mentality” could render gains ephemeral.

The Fed began its deliberations today, and investors are betting it’ll slash 0.5% from its benchmark rate, bringing it to just 1%. Citigroup also announced that its US balanced funds would be moving heavily into stocks this week, which could shoot life into a market short on liquidity. There was bad news, however, from Whirlpool, which trimmed its 2008 guidance and will cut 5,000 jobs.

A trader laughs while working on the floor of the New York Stock Exchange Monday, Oct. 20, 2008.
A trader laughs while working on the floor of the New York Stock Exchange Monday, Oct. 20, 2008.   (AP Photo/Richard Drew)
A specialist works on the floor of the New York Stock Exchange, Monday, Oct. 27, 2008.
A specialist works on the floor of the New York Stock Exchange, Monday, Oct. 27, 2008.   (AP Photo/Richard Drew)
Traders work on the floor of the New York Stock Exchange Wednesday, Oct. 22, 2008.
Traders work on the floor of the New York Stock Exchange Wednesday, Oct. 22, 2008.   (AP Photo/Richard Drew)
Specialist Benton Bocklet smiles as he works on the floor of the New York Stock Exchange Monday, Oct. 20, 2008.
Specialist Benton Bocklet smiles as he works on the floor of the New York Stock Exchange Monday, Oct. 20, 2008.   (AP Photo/Richard Drew)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.24.09
Murdoch and Microsoft: The Mice Are Trying to Roar
11.23.09
Books Are Bad for You
0 comments
VIEWING:
 
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

695 Stories

MARKETS

 Dow Up 31 on Jobs, Income 

Weekly jobless claims hit 14-month low

Nov 25, 09 3:08 PM CST
(Newser) - Stocks saw solid gains as positive data on personal income and jobless claims raised hopes for a solid post-Thanksgiving shopping season, the Wall Street Journal reports.
  • The Dow rose 31 points, closing at 10,464.
  • The Nasdaq gained 7 points, settling at 2,176.
  • The S&P
... More »

MORE ABOUT:
Dow Jones • Nasdaq • S&P 500

MARKETS

 Dow Drops 17 Points  

Home prices rise but fail to meet expectations

Nov 24, 09 3:17 PM CST
(Newser) - Stocks almost managed to recover from steep losses suffered early in the day but ended in the red. Among the factors: China signaled it's ready to tighten credit, and September home prices rose but less than expected, the Wall Street Journal reports.
  • The Dow closed down 17 points at
... More »

MORE ABOUT:
Dow Jones • Nasdaq • S&P 500

MARKETS

 Up 133, Dow Hits New '09 High

Data on home resales spur rally

Nov 23, 09 3:18 PM CST
(Newser) - Stocks rallied today on news that home resales jumped 10.1% in October and comments from the president of the St. Louis Fed reaffirming the government's extended commitment to support the credit markets, the Wall Street Journal reports.
  • The Dow jumped 132.79 points to close at 10,450.
... More »

MORE ABOUT:
Federal Reserve • Dow Jones • home sales • Nasdaq • existing home sales • S&P 500 • existing-home sales

695 Stories


Late rally lifts Hong Kong
Wall Street Journal

Whirlpool slashes jobs
MarketWatch

Why Ben Stein and I are buying stocks
TheStreet


Business 
TwitterFollow @NewserBusiness on Twitter

 
stock market • Federal Reserve • Nasdaq • Dow • Fed funds rate • S&P 500 • Hang Seng Index

from our news partners