NEW YORK (AP) - Wall Street has made another big late-day move. The Dow was about 900 points higher at the closing bell.
Bargain hunters were on a rampage, in anticipation of a Federal Reserve rate cut tomorrow. They grabbed stocks that have been pounded lower in recent sessions.
Investors looked past news of a sharp drop in consumer confidence. Instead, they're focusing on expectations that the Fed will cut its fed funds rate by half a point to 1 percent.
The market did fluctuate after the Conference Board said its index of consumer confidence has fallen to 38 in October, well below the 51 analysts expected.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.