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Fed's Cut Flips Markets Upwards

But credit debacle undergirds even gains, analysts warn

By Kevin Spak,  Newser Staff

Posted Aug 17, 2007 4:46 PM CDT

(Newser) – Markets surged upwards today after the Fed cut its discount rate, thanks to a flurry of short-covering aided by today's options expiration. The Dow was up for the first time in over a week, jumping 233.30 to close at 13079.08. But many experts...   Read full story »

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