24 January 2001, 09:46  US stocks end higher on rate-cut optimism

New York--Jan. 23--U.S. stocks rose as investors bet that all the bad news on earnings has been priced into the market and that the Federal Reserve will cut interest rates by another 50-basis points at its meeting later this month. The Nasdaq closed at its highest level since Dec. 12, rising 82.21, or 2.98%, to 2840.12 and the Dow was up 71.57, or 0.68%, to 10,649.81. The S&P 500 closed up 17.47, or 1.30%, to 1360.37.

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