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To: Venkie who wrote (2557)	6/28/2001 10:24:54 AM
From: DOUG H	Respond to of 13815

the bop dude musta been moonbarkin last night. to the moon Alice! Stocks Rally Amid Rosy View of Rate Cut Jun 28 10:09am ET NEW YORK (Reuters) - Stocks barreled higher in early morning trading session on Thursday as the Federal Reserve's modest interest rate reduction stoked Wall Street's hopes that the worst is over for the nation's faltering economy. The technology-packed Nasdaq Composite Index <.IXIC> rallied 48.99 points, or 2.36 percent, to 2,123.73. The blue-chip Dow Jones industrial average <.DJI> jumped 133.92 points, or 1.28 percent, to 10,568.76. The broader Standard & Poor's 500 Index <.SPX> was up 13.81 points, or 1.14 percent, at 1,224.88. The Fed's quarter-point cut on Wednesday was modest compared to five steep half-point reductions the central bank fired off this year, but the slower pace of easing could signal the Fed thinks the economy may be recovering, analysts said. The bank's move also calmed worries the cuts will overstimulate the economy and ignite inflation, they added. Renewed hope for a mega-merger two Dow components grabbed the spotlight. General Electric Co. is ready to divest 19.9 percent of its aircraft leasing arm in a renewed bid to win European Union approval for its proposed $41.2 billion takeover of Honeywell International Inc. , sources close to the talks said. GE shed 8 cents to $48.18. Honeywell jumped $2.80 to $39.80. More Finance News