Fed slashes rates and pledges broad support boosts stocks
New York AP A surprised Wall Street leaped after the Federal Reserve cut its benchmark rate to zero to 0.25 and pledged tools to revive the economy. Dow rose 359.61 points to 8,924.14. S&P 500 up 44.61. Nasdaq up 81.55. bond yields fell to record lows. Investors cheered the Fed balance sheet expansion and government debt purchases.
MENTIONED IN THIS ARTICLE
Chg
AES Corp
AU Inc
AMD
AlcatelLuc
Alcoa
Altrias
Amovil
AmExp AmintiGo
Annaly
Bneolaus
Boeing
Dow Industrials
CBS
Dow Transportation
Dow Utilities
CVS Care
Nyse Composite
CapitiSrce
SAP
Cemex
S&p Midc
ChesEng
Russell
Chevron
Wilshire
Citigro
DJIA
Disney
Fed
Streamgsv
DowChm
EMC Cp
MarineMx
Aldnevg
StreamGun
Stratusp
Ipasocp
Bowne
ThomasPro
Frksipro
ExxonMb
Hovnane
UnivPwr
AnnapRep
Star
iCnsTom
MakMuse
FannieMac
DirxFinBull
GreenHtrn
GuarantyBe
FleetEnt H
Clay
Neme
FemaleHit
Vestinam
Gap Satyam GenElec
Wpcs Intl
Dirxsc Bear
Rencg
Libbellnj
Genworth Proushtfn
MFS Cains
SmrtStn Pf
Golderpg
HKN
GriFlaBk
Goldman
Clearwp Wi
AmApparel
WGNB
AmLnd
Pfa
StephanCo
Sigmatr
HartidFn
Prouisem
Nimatf
Amritrasc
Hewlettp
Intel
Pscrudedl
iShBraz
EkotAm
SP Mid
Microsoft
ProultFin
GoldStr
Cisco
iShJapn
Shemkt S
NovaGid G
Oracle
Istaiwa
Prousp
FrkStPro
ApidMat
Jpmorgch
NA Pall
Schwab
Isease
Genworth
Aitastm
Isrikg
An Ishr2k
IBM
JohnJn
Kimco
Kinross
Pit — Kraft
Lvsands
Lowes
Macys
Marathono
AligEngy NY
HomeCp
Mktvgold
Altrias NY
ingerRd NY
AEP NY
Intel Nash
Bb&t Cp NY
IBM NY
Merck
BakrHu NY
JohnJn NY
MerrillLyn
Br NY
wySq NY
Lowes Kroger NY
Comespel
ConsolEngy NY
NatlBnksh Nasd
Motorola
Daimler NY
NorfikSo NY
Dell Inc Nash
Oracle Nasd
Mylan Disney NY
Penne NY
Nati City
DomReses NY
PepsiCo NY
Newmtm
DuPont NY
Pfizer NY
PhilMorn NY
Newscpa DukeEngy NY
Nash
Praxair NY
NokiaCp
eBay Emersone
RexStrs NY
SearsHidgs Nasd
Petrbrs A
Ford MN
UPS
Pfizer
FrontierCm
GenElec NY
Ussteel PhilMorn
GnMott NY
erizonCm NY
Hewlett P NY
Prouksp
Japan
Proushtfrn
Mexico
Proulo
QwestCm
Pimco TotRetis Cl
GrthAmAm LG
CapiicBuAm IH
SpdrGold
CoWidGrlAm Y
Fidelity
Invcoama Im i
Incamera m MA
Schimbrg
Wamutinva
Vanguard
Dodge & Cox Stock
EurPacGrAm
Vanguard Instrdx L
SprintNex
SP Consum
American Funds
Fundminva
Dodge & Cox IntiStk
Pimco TotRetAdmial
TainSemi
Vanguard Wellin MA
American Funds Bond
Fidelity GrowCo
SH US Steel
Morningstar Valeroe
Wis
WalMart
Weathfints
Wells Fargo
The
Associated Press
Yamanag
New York
Wall Street
Federal Reserve
Central Bank
Jim McDonald
Equi
Dow
Standard & Poor
New York Stock Exchange
Treasury
Regulators accuse Ovation of monopoly on baby defect drugs
The FTC alleges Illinois firm Ovation Pharmaceuticals bought the only two drugs for patent ductus arteriosus in premature infants and raised prices from $36 to about $500 per vial. It bought Indocin in 2005 and NeoProfen in 2006, then faced no effective competition, prompting costly widespread impacts.
MENTIONED IN THIS ARTICLE
Washington
Federal Trade Commission
Ovation Pharmaceuticals Inc
Ovation
FTC
Jon Leibowitz
Deerfield
Minneapolis
Commission
Food and Drug Administration
Merck and Co
Merck
U.S
Abbot Laboratories Inc
Oil slips as Saudi sinks price with promised cuts
Oil futures eased after Saudi Arabia signaled a roughly 2 million barrel per day production cut to halt price declines. OPEC warned of further cuts while markets priced in a larger move, even as the Fed lowered its target rate to a record low to combat a deepening recession.
MENTIONED IN THIS ARTICLE
OPEC
Saudi Arabia
Phil Flynn
Alaron Trading Corp
Federal Reserve
Federal
U.S
New York Mercantile Exchange
Stephen Schork
Schork
Ali Naimi
Organization of Petroleum Exporting Countries
Tom Kloza
Oil Price Information Service
Kloza
MasterCard
Peter Beutel
Cameron Hanover
MasterCard Payments Network
Labor Department
Venezuela
Rafael Ramirez
Gerard Burg
ICE Futures Exchange
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Daiy Dow Jones
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Northern Trust
Chicago
Bruce McCain
Key Private
Cleveland
Jack A. Ablin
Harris Private Bank