U.S. stocks gain as senator reassures investors

11:46 am ET Aug 21, 2007

DJIA

13,151

+30.40

S&P

1,451

+6.03

NASDAQ

2,519

+11.04

10Yr

4.60%

-0.038

U.S. stocks gain as senator reassures investors

NEW YORK
U.S. stocks turned up again Tuesday after Sen. Chris Dodd, D-Conn.,
offered reassurances that Federal Reserve Chairman Ben Bernanke is ready
to move to address the credit crunch roiling the financial markets.

Bond Report: Short-term Treasury bills rally, putting Fed to the test

NEW YORK
A rally in short Treasury bills Monday, which sent their yields sharply
lower, raised questions about the effectiveness of the Federal Reserve's
move to boost liquidity by cutting its discount rate on Friday.

The Fed: Fed may have to cut federal funds rate, economists say

WASHINGTON
U.S. credit markets remained extremely fragile Monday, and observers
said the Federal Reserve may have to lower its federal funds target rate
to inject permanent liquidity into the market and provide investors with
more assurances that the central bank will act to keep the economy
growing.

Target Corp. delivers quarterly profit growth of nearly 13%

CHICAGO
Target Corp.'s second-quarter profit came in 12.6% higher than last year
as the discount giant chalked up better gross margins and generated a
bigger contribution from its credit-card division, financial results
showed Tuesday.

Capital One shuts wholesale mortgage unit, cutting 1900 jobs

SAN FRANCISCO
Capital One Financial said late Monday that it is closing its wholesale
mortgage business and cutting 1,900 jobs as the credit card giant loses
confidence in the profitability of originating home loans, then selling
them in secondary markets.