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
Dow Up 9 on Fed Rate Hike
Traders work on the floor of the New York Stock Exchange Friday, Feb. 12, 2010.   (AP Photo/Craig Ruttle)

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.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.