Financial Stocks Move Modestly Higher After Fed 50bp Rate Cut

Financial stocks are moving modestly higher following the fed's decision to cut the federal funds rate 50 basis points to 3 percent. The fed has cut rates 1.25% since 1/22.

Stocks: Merrill Lynch (NYSE: MER), Citigroup (NYSE: C), Bear Stearns (NYSE: BSC), Goldman Sachs (NYSE: GS), Wachovia (NYSE: WB), Bank of America (NYSE: BAC).

You May Also Be Interested In

• Sysco closes C$1.5 billion senior notes offering for Jetro acquisition
• Northrop Grumman wins $143M in new U.S. defense contracts
• ShinyHunters hackers say they stole psychiatric and medical records of DBI staff - Reuters