Dow rockets 300 pointsU.S. stocks rally after Fed cuts symbolic interest rate; major gauges up more than 2%.NEW YORK (CNNMoney.com) -- U.S. stocks surged at Friday's open after the Federal Reserve cut a largely symbolic interest rate in the wake of "deteriorated" market conditions. The Dow Jones industrial average soared more than 300 points. The Nasdaq composite index was 2.9 percent higher. The Standard & Poor's 500 index catapulted 2.5 percent. Among stocks in the news Friday: Countrywide Financial (Charts, Fortune 500), Dell (Charts, Fortune 500), Hewlett-Packard (Charts, Fortune 500), Whole Foods Market (Charts, Fortune 500), Wild Oats Markets (Charts) and Midwest Air Group (Charts). |
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