Wednesday, January 23, 2008

Stocks Surge On Expectations Of Future Fed Rate Cut

The Dow Jones Industrial Average gained 299 points (2.5%) to close at 12,270, the S&P 500 Index rose 28 points (2.1%) to 1,339, and the Nasdaq Composite advanced 24 points (1.1%) to 2,316. Crude oil finished down $2.22 to $86.99 per barrel, and gold ended down $0.40 at $889.90 per ounce.

Magnificent Seven Update