Stocks Rocket Higher, Dow Jumps Over 500
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U.S. stocks surged higher today as investors looked for bargains in beaten up stocks. The worst consumer confidence number on record did little to stop the buying. At 3:20PM ET the Dow was up 543, the Nasdaq was up 84 and the S&P was up 55
Today, the Federal Reserve started a two-day meeting on interest rates. Many expect the Fed to lower the fed funds rate another 50 bps to 1%.
Foreign stocks surged higher today following record losses. In Asia, the Hang Seng jumped 14.3% and the Nikkei 225 rose 6.4%. In Europe, the DAX rose 11.3%, the FTSE 100 rose 2% and the CAC 40 rose 1.6%.
Today, the Federal Reserve started a two-day meeting on interest rates. Many expect the Fed to lower the fed funds rate another 50 bps to 1%.
Foreign stocks surged higher today following record losses. In Asia, the Hang Seng jumped 14.3% and the Nikkei 225 rose 6.4%. In Europe, the DAX rose 11.3%, the FTSE 100 rose 2% and the CAC 40 rose 1.6%.
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