Today's Deal Promo Box - A&M sign

Login or Signup

Facebook user?
You can use your Facebook account to log in.
Join The Community
Login | Register | Subscribe
 

NEW YORKStocks close mostly up on hope Fed to cut rates further

MARKET RECAP

MARKET RECAP
Font Size:
Default font size
Larger font size

Wall Street ended another erratic session mostly higher Tuesday as investors, waiting for the Federal Reserve's next move to steady the markets, made few major commitments to stocks.

The Fed has taken a number of steps to prop up the nation's financial institutions ahead of its scheduled Sept. 18 meeting, including injecting more liquidity into the banking industry and cutting the discount rate. But many on Wall Street want the Fed to do more, including lowering the more important federal funds rate, and to do it before next month's meeting.

According to preliminary calculations, the 30-stock Dow Jones industrial average fell 30.49, or 0.23 percent, to 13,090.86 after moving in and out of positive territory throughout the day.

Broader market indexes were slightly higher. The Standard & Poor's 500 index rose 1.57, or 0.11 percent, to 1,447.12, and the Nasdaq composite index rose 12.71, or 0.51 percent, to 2,521.30. The Russell 2000 index of smaller companies added 0.93, or 0.12 percent, to 788.38.

Bonds continued to rally, with the yield on the benchmark 10-year Treasury note falling to 4.59 percent from 4.63 percent late Monday. Bond prices move opposite yields. AP

Copyright 2012 nwitimes.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Print Email

Sponsored Links

Current Conditions
19° F
Sponsored by:
Promo Banner - iPad App

Latest Local Offers

Chesterton Martial Arts & Fitness
Kardio Kickboxing – $10/month unlimited
Chesterton Martial Arts & Fitness
McShane’s Business Products & Solutions
Save space with serious storage.  Sturdy boxes keep files archived and safe. Order your storage boxes from McShane's and SAVE! Call 800.837.1440 or visit us online at www.mcshanes.com.
McShane’s Business Products & Solutions
Blade Cutters Landscaping
$100 Landscaping Service Coupon
Blade Cutters Landscaping
Southlake Martial Arts
Free Martial Arts Trial Class!
Southlake Martial Arts
MJ Polish Deli
Punch card lunch deals & hot soups everyday!
MJ Polish Deli

Poll

Do you think the domestic steel industry will make a full recovery in 2012?

Loading…
Yes
No

Featured Businesses

Hint: Enter a keyword that you are looking for like tires, pizza or doctors or browse the full business directory, powered by Local.com