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This newspaper page contains 4 articles. Subscribers can read the full text of each article.
Newspaper
Register Herald
Location
Beckley, West Virginia, United States of America
Date
Sep 24, 1998
Page
8
Stocks surge as Greenspan's remarks lift mood on global crisis. The Dow jumps 257 points to 8154.41, led by late-session buying, with broader indexes climbing as investors anticipate a rate cut at next week's Fed meeting. Greenspan tests flexibility while lawmakers press for action.
Federal Reserve Chairman Alan Greenspan signaled a potential rate cut next week. He told the Senate Budget Committee that few signs the Asia crisis has subsided and policymakers may vote to lower the federal funds rate from 5.5 percent. Wall Street rallied as traders anticipated a cut, with the Dow surging and closing higher.
A dense OCR style listing shows multiple stock names with last values and percentage changes. The fragment includes AFLACs, AT&T, Coca Cola, IBM, Tyson, Nike, Pfizer, Pepsico, and many others with varied gains and losses, mixed with unclear punctuation and numbers.
The Democratic Congressional Campaign Committee trails the GOP 4 to 1 in hard money available for House candidates. The DCCC faces a six figure donation from Bernard Schwartz of Loral Corp amid federal scrutiny of satellite deals with China. Republicans urge returning the funds as Election Day nears, while the DCCC relies on smarter spending and available loans to close the gap.
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