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Stocks Surge on Fed Comments



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Nov 15 2006
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Latest financial news from AP indicated Wall Street barreled higher Tuesday, with the Dow Jones industrials surging further into record territory after a Federal Reserve official indicated the Fed will maintain its policy of stable interest rates.

The Dow rose 86.13, or 0.71 percent, to close at 12,218.01, above the previous record close of 12,176.54 reached last Wednesday. The blue chips also reached a new trading high of 12,228.01. The Standard & Poor’s 500 index rose 8.80, or 0.64 percent, to 1,393.22. The Nasdaq composite index rose 24.28, or 1.01 percent, to 2,430.66.

Investors who were heartened by an earlier report of slowing producer prices began buying in earnest after Federal Reserve Bank of St. Louis President William Poole described the Fed’s interest rate policy as “about right.”

Related Resources :
New York Stock Exchange: http://www.nyse.com
Nasdaq Stock Market:
http://www.nasdaq.com


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