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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