U.S. stocks soar after Fed steps in

11:46 am ET Aug 17, 2007

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NASDAQ

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10Yr

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+0.077

U.S. stocks soar after Fed steps in

NEW YORK
U.S. stocks remained higher Friday but significantly pared gains as
investors mulled the impact of the Federal Reserve's move to cut its
discount interest rate in an attempt to ease concerns over liquidity.

The Fed: CORRET: Fed cuts discount rate to ease credit crunch

WASHINGTON
In a move wildly applauded by financial markets on both sides of the
Atlantic, the Federal Reserve announced Friday that it's cut the
discount rate by a half percentage point to 5.75%.

The Ratings Game: Countrywide upgraded as analysts say lender can
weather the storm

BOSTON
An analyst at Banc of America Securities upgraded shares of troubled
mortgage lender Countrywide Financial Corp. to neutral from sell Friday,
saying that tapping its $11.5 billion credit facility should provide
Countrywide the time needed to address liquidity and capital concerns.

London Markets: British stocks jump after Federal Reserve discount rate
cut

LONDON
British stocks surged on Friday after the U.S. Federal Reserve stepped
in with a half-point cut to a key lending rate, led by financial
services firms on hopes for a full-fledged rate cut.

Whole Foods, Wild Oats shares zoom; deal gets legal boost

NEW YORK
Shares of Whole Foods Market Inc. and Wild Oats Markets Inc. soared in
Friday morning trading after a federal judge rejected a U.S. Federal
Trade Commission request to block the combination of the two companies.