Stocks Rally Then Slip After Fed Rate Cut in Turbulent Session
The Fed cut rates 0.75 points to 3.5 percent, sparking a sharp initial Dow drop of 465 points before finishing down 128.11. The move aims to ease credit costs, but housing woes and weak consumer confidence dull any quick recovery, with the Dow at 11,971.19 and major indexes like the S P 500 and Nasdaq also falling. Analysts warn a durable rebound requires stronger housing signals and earnings from firms such as Microsoft, AT&T, Caterpillar, Honeywell, Citigroup, and Merrill Lynch.
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Federal Reserve
U.S
Dow
Fed
Daniel Alpert
Westwood Capital LLC
Mike Schenk
Credit Union National Association
Standard & Poor
iMoneyNet
TrimTabs
Richard Resch
Resch
Long Valley
N.J
Microsoft Corp
At&t Inc
Caterpillar Inc
Honeywell International Inc
Citigroup Inc
Merrill Lynch & Co
Peter Boockvar
Equity
Miller Tabak
Market Watch Stocks Close Mixed On Quiet Session
Dow Jones Industrial Average sits at 44,971.19 while Nasdaq composite stands at 2,092.27 and S&P 500 at 1,310.50. Advancers and decliners show uneven activity with NYSE and Nasdaq totals and volumes reported for the day.
Grain futures close lower on CBOT trading
Agricultural futures finished down Tuesday on the Chicago Board of Trade. Wheat for March delivery dropped 28.5 cents to 9.34 a bushel, March corn fell 9.25 cents to 4.89, March oats slipped 6 cents to 3.135, and March soybeans declined 24.5 cents to 12.395 a bushel.
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Chicago
Chicago Board of Trade
Stockyards Springfield prices and Illinois hog bids
Eastern Cornbelt carcass prices show 0.5 to 0.9 inch bf ranges from 40.00 to 53.50. Today's negotiated Illinois direct hog purchases total 14 973 with trading steady and light demand. Price ranges: 300-400 Ibs 4.00-9.00, 400-500 Ibs 6.00-10.00, 500-600 Ibs 8.00-11.00, over 600 Ibs 10.00-13.00. Boars under 300 Ibs 10.00-15.00, over 300 Ibs 3.00-6.00. The Associated Press.
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Illinois
The
Associated Press
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