Dow soars 889 points
Go Deeper.
Create an account or log in to save stories.
Like this?
Thanks for liking this story! We have added it to a list of your favorite stories.
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.
Turn Up Your Support
MPR News helps you turn down the noise and build shared understanding. Turn up your support for this public resource and keep trusted journalism accessible to all.
