NewsMine — economy — united-states — 2008-jan-may — Viewing Item

World drops again as US anticipates rate cut { December 2008 } Original Source Link: (May no longer be active)    http://bloomberg.com/apps/news?pid=20601087&sid=aM09.evqAgFo&refer=home http://bloomberg.com/apps/news?pid=20601087&sid=aM09.evqAgFo&refer=home U.S. Stocks Gain on Rate-Cut Speculation; Corning Shares Rise By Michael Patterson Jan. 28 (Bloomberg) -- U.S. stocks rose, extending the market's first weekly gain this year, as odds increased that the Federal Reserve will cut its benchmark lending rate by half a percentage point this week to prop up the economy. The Standard & Poor's 500 Index rebounded from earlier losses sparked by slower sales growth at McDonald's Corp. and a drop in purchases of new homes. Stocks fell across Europe and Asia, led by a 6.8 percent drop in China's benchmark index. Corning Inc., the biggest maker of glass for flat-panel displays, rallied after forecasting first-quarter sales and profit that topped analysts' estimates. The S&P 500 Index added 2.99, or 0.2 percent, to 1,333.6 at 10:44 a.m. in New York. The Dow Jones Industrial Average increased 8.7, or 0.1 percent, to 12,215.87. The Nasdaq Composite Index slipped 0.34 to 2,325.86. About 10 stocks rose for every nine that fell on the New York Stock Exchange. ``We actually expect the market to rally somewhat based on Fed easing actions,'' said Dean Gulis, who helps manage about $3 billion at Loomis Sayles & Co. in Bloomfield Hills, Michigan. ``The Fed will do what's necessary to get us through the current credit issues.'' Traders see an 86 percent chance the Fed will cut its benchmark lending rate to 3 percent at its meeting Jan. 29-30, according to futures trading. Traders last week saw no chance the central bank would reduce rates by that much. Last Updated: January 28, 2008 10:45 EST

10 recession proof cities { May 9 2008 } 7000 stores could close this year { April 30 2008 } Americans increasing delinquent on credit cards { November 2007 } Americans sell posessions to makes ends meet { April 29 2008 } Bearsterns takeover causes economic tumble { March 17 2008 } Bernanke fedrate cut disappoints treasury bulls { December 2008 } Bernanke tells congress more rate cuts needed { February 14 2008 } Buffett says recession may be worse than feared { March 2008 } Consumer confidence falls to 26yr low { March 2008 } Consumer prices increase more than forecast { January 2008 } Dollar falls to record low against euro { March 2008 } Dollar rebounds after euro terror threat { March 19 2008 } Dow drops 370 on service sector news { February 5 2008 } Dow products will have price increase { April 2008 } Fed cuts another half point appeasing markets { December 2008 } Fed expects higher inflation { February 20 2008 } Fed uses depression era tactics { February 2008 } Federal reserve takes risk from risky mortgages { March 12 2008 } Food costs rising fastest in 17 years { March 2008 } Food prices causing world crisis { March 2008 } Global selloff causes fed 3 4 rate cut { January 22 2008 } GM largest loss ever for any auto company { January 2008 } Gold jumps 1000 as dollar plummets { March 13 2008 } Housing slump not reducing inflation { January 2008 } Inflation biggest jump in 26 years { January 15 2008 } January wholesale inflation up { January 2008 } Potential fed rate cuts sends gold to new record { December 2008 } Ron paul blames federal reserve for weak economy { January 22 2008 } Stocks fall on slow projected growth { May 21 2008 } Stocks fell 5perc before rebounding { January 23 2008 } Stocks up when bad housing data suggests cut { January 8 2008 } Teens giving up wasteful excessive spending { April 17 2008 } US living standards drop below britain { January 6 2008 } USA economic measure defines misery { March 12 2008 } Wall street optimistic despite main street { May 2 2008 } Wheat prices since 2002 have biggest gain { January 2008 } World drops again as US anticipates rate cut { December 2008 } Files Listed: 37

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