U.S. stocks rally on strong earnings; S&P 500 at 5 1/2-year high

Markets, nyc

11:45 am ET Sep 20, 2006

DJIA 11,612 +71.96

S&P 1,326 +8.18

NASDAQ 2,253 +31.46

10Yr 4.72% -0.018

U.S. stocks rally on strong earnings; S&P 500 at 5 1/2-year high
Last Update: 9/20/2006 12:00:09 PM

NEW YORK -- U.S. stocks rallied Wednesday, with the S&P 500 at a new 5
1/2-year high, after strong results out of Oracle Corp. and Morgan
Stanley boosted investor confidence ahead of the upcoming third-quarter
earnings season.
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CORRECT: No rate move seen in favor of 'wait and see' approach

WASHINGTON -- The Federal Open Market Committee will hold rates steady
at its policy meeting on Wednesday, taking a "wait-and-see approach"
amid hints that the economy is downshifting and inflation pressures
abating, economists say.
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Morgan Stanley profit jumps; revenue back near $8 billion

NEW YORK -- Morgan Stanley reported Wednesday a third-quarter profit
that jumped from year-ago levels, overcoming a difficult summer trading
environment.
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Oracle shares surge 13% on solid results, forecast

LOS ANGELES -- Oracle Corp.'s stock surged by as much as 13% to a
five-year high Wednesday after the business-software company reported
stronger-than-expected sales and profit growth.
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The Ratings Game: Analysts eye spinoff of Putnam rather than sale

NEW YORK -- Marsh & McLennan Cos. drew cheers Wednesday from analysts
who have been actively rooting for a spinoff of Putnam Investments after
months of speculation over what's next for the asset-management unit.