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Tuesday, January 29, 2008
Will the Fed cut again?
Stocks made another gain Tuesday, as each index finished in the positive. Two consecutive days with gains really has me with a smile on my face. Investing pros are expecting a half percentage-point cut in the Fed's key rate target, to 3%, on Wednesday but could be disappointed if it is anything less. Late in the trading day, the House of Representatives passed a recently proposed stimulus package of tax rebates by a landslide vote of 385-35. But the bill faces an uncertain future in the Senate, where officials may change the package's details in ways that House members or President Bush find unacceptable.
DJIA +96.41 Nasdaq +8.15 S&P 500 +8.33