Stocks rise on bargain hunt amid wary market
Investors bought bargains on Wall Street as blue chips surged and Nasdaq turned positive for the first time in eight sessions. The Dow rose 168.36 to 10,487.29, Nasdaq gained 7.64 to 2,340.42, and S&P 500 climbed 10.16 to 1,274.90, despite profit warnings and fears of a slowing economy. Analyst Arthur Hogan called it a bargain hunters market as oversold conditions fade.
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Fed debated easing inflation bias last month
Washington AP report notes Federal Reserve policy makers discussed shifting to an equal balance between inflation and recession at the Nov. 15 meeting. They unanimously kept the policy statement, still rating inflation as the greatest threat, before a later 180 degree shift at the next gathering.
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