U.S. stocks lose steam after Fed cuts rates

Date: Wed, 30 Apr 2008 21:01:04 (GMT)

U.S. stocks lose steam after Fed cuts rates

U.S. stock indexes lose momentum after surging near four-month highs, as
investors debate the significance of words that came with the Federal
Reserve's latest cut to short-term interest rates by 25 basis points to
2%.

The Fed: Fed trims rates by quarter-point, no strong hint about future

WASHINGTON
The Federal Reserve chose to cut short term interest rates on Wednesday
for the fourth time this year, saying it remains troubled by the
economic outlook, but signaling that it now may leave rates steady for a
while.

Emerging Markets Report: S&P raises Brazil's rating to investment grade

Brazilian shares rally after Standard & Poor's raises the country's
long-term sovereign credit rating to investment grade, an important
acknowledgement of Brazil's economic progress.

Economic Report: U.S. economy grows better-than-forecast 0.6% in first
quarter

The U.S. economy barely keeps its head above water in the first quarter,
growing at an annual rate of 0.6% on inventory building, export strength
and a never-say-die consumer.

Google shares awaken from six-month snooze

The once high-flying shares of Google have apparently recovered from
their six-month slump, surging nearly 30% since a strong earnings report
two weeks ago.