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24 mins ago - Wall Street advanced Monday as expectations for an interest rate cut from the Federal Reserve and an uptick in pending home sales helped offset concerns about another round of subprime mortgage-related losses. The Dow Jones industrials rose more than 100 points.Investors remained upbeat ahead of the Fed's rate-setting meeting on Tuesday. Policymakers are broadly expected to lower rates, though economists are still split over whether there will be a quarter-point cut or a half-point cut.
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26 mins ago - Wall Street advanced Monday as expectations for an interest rate cut from the Federal Reserve and an uptick in pending home sales helped offset concerns about another round of subprime mortgage-related losses. The Dow Jones industrials rose more than 100 points.Investors remained upbeat ahead of the Fed's rate-setting meeting on Tuesday. Policymakers are broadly expected to lower rates, though economists are still split over whether there will be a quarter-point cut or a half-point cut.
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2 hrs 49 mins ago - Wall Street advanced Monday as expectations for an interest rate cut from the Federal Reserve and an uptick in pending home sales helped offset concerns about another round of subprime mortgage-related losses.Investors remained upbeat ahead of the Fed's rate-setting meeting on Tuesday. Policymakers are broadly expected to lower rates, though economists are still split over whether there will be a quarter-point cut or a half-point cut.
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3 hrs ago - Wall Street advanced Monday as expectations for an interest rate cut from the Federal Reserve and an uptick in pending home sales helped offset concerns about another round of subprime mortgage-related losses.Investors remained upbeat ahead of the Fed's rate-setting meeting on Tuesday. Policymakers are broadly expected to lower rates, though economists are still split over whether there will be a quarter-point cut or a half-point cut.
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4 hrs ago - Wall Street appeared headed to a slightly higher open Monday as expectations for an interest rate cut from the Federal Reserved helped offset another round of subprime mortgage-related losses.Investors remained upbeat ahead of the Fed's rate-setting meeting on Tuesday. Policymakers are broadly expected to lower rates, though economists are still split over whether there will be a quarter-point cut or a half-point cut.
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6 hrs ago - Wall Street headed for a slightly higher open Monday despite further evidence that the subprime mortgage crisis continues to spread.Swiss bank UBS said it will write down some $10 billion of subprime mortgage holdings, and also announced plans for an $11.5 billion capital injection from the government of Singapore and an unidentified Middle Eastern investor. Shares of the bank rallied in Europe on relief this might be the worst of UBS' exposure, and that the bank was able to secure more capital.
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6 hrs ago - Wall Street headed for a slightly higher open Monday despite further evidence that the subprime mortgage crisis continues to spread.Swiss bank UBS said it will write down some $10 billion of subprime mortgage holdings, and also announced plans for an $11.5 billion capital injection from the government of Singapore and an unidentified Middle Eastern investor. Shares of the bank rallied in Europe on relief this might be the worst of UBS' exposure, and that the bank was able to secure more capital.
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2 days ago - Wall Street paused from its big rally Friday, with stocks closing narrowly mixed after the government's November labor report showed tepid job growth as well as a pickup in inflation. The major indexes ended the week higher, with the Dow Jones industrials having gained nearly 900 points over nine trading days.The Labor Department reported 94,000 jobs were added to payrolls in November and that the unemployment rate held steady at 4.7 percent. Thomson/IFR analysts had set a median projection of 100,000 new jobs. The report also showed that average hourly earnings increased 0.5 percent in November, compared with forecasts for a more-modest 0.3 percent.
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2 days ago - Wall Street paused from its big rally Friday, with the major indexes fluctuating after the government's November labor report showed tepid job growth as well as a pickup in inflation.The Labor Department reported 94,000 jobs were added to payrolls in November and that the unemployment rate held steady at 4.7 percent. Thomson/IFR analysts had set a median projection of 100,000 new jobs. The report also showed that average hourly earnings increased 0.5 percent in November, compared with forecasts for a more-modest 0.3 percent.
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