Dow Up 9 on Fed Rate Hike

Uptick in discount rate seen as sign of strength in US economy
By Nick McMaster,  Newser Staff
Posted Feb 19, 2010 3:27 PM CST
Traders work on the floor of the New York Stock Exchange Friday, Feb. 12, 2010.   (AP Photo/Craig Ruttle)

(Newser) – Stocks wavered today, falling into the red during a speech by President Obama in which he promised more extensive financial regulation but reclaiming positive territory as traders came to see the Fed's increase in the discount rate as a vote of confidence in the economy, the Wall Street Journal reports.

  • The Dow gained 9 points to close at 10,402.
  • The Nasdaq rose 2 points, settling at 2,244.
  • The S&P 500 also added 2 points, closing at 1,109.
(Read more Dow Jones stories.)

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