Rally Loses Steam; Dow Off 32
Freddie Mac sees shares rise 122% on earnings
By Nick McMaster,  Newser Staff
Posted Aug 10, 2009 3:26 PM CDT
Traders work on the floor of the New York Stock Exchange, Friday, Aug. 7, 2009 in New York.   (AP Photo/Mary Altaffer)
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(Newser) – Stocks wavered on the heels of last week’s rally, closing slightly lower as investors wait for comments from the Fed, the Wall Street Journal reports. Federal Reserve policy makers will conclude a 2-day meeting on Wednesday and perhaps issue a new assessment of the economic recovery. Despite a broad decline, Freddie Mac soared 128% after reporting strong earnings. The Dow closed 32 points lower at 9,338. The Nasdaq lost 8 points, closing at 1,992, and the S&P 500 shed 3 points to settle at 1,007.