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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: MythMan who wrote (346453)10/24/2007 8:05:34 PM
From: Giordano Bruno  Read Replies (2) of 436258
 
I believe this is what you're looking for stable boy -g-

NEW YORK, Oct 24 (Reuters) - U.S. stocks sharply cut their losses on Wednesday, with the Dow turning into positive territory, amid talk that the Federal Reserve would act to cut the discount rate.

"There are rumors in the market, which are unsubstantiated, that there is potentially a Fed discount rate cut coming imminently," said Bobby Harrington, head of block trading at UBS, in Stamford Connecticut. "That seems to be a strong speculative situation going around the Street. You saw the Dow rally nearly 200 points. It wouldn't be out of the question, given the news we've had from the credit side of the equation today."
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