U.S. stocks end sharply up; major indexes up 2.5% and more

Date: Wed, 16 Jul 2008 17:04:29 -0400
U.S. stocks end sharply up; major indexes up 2.5% and more

U.S. stocks rally as the price of crude slides more than $6 a barrel,
with equities already bolstered by better-than-forecast results from
Wells Fargo and Intel, offset a big jump in retail-level inflation.

Financial Stocks: Financials rise with Fannie, Freddie and Wells Fargo

NEW YORK
Fannie Mae and Freddie Mac continued to claw back gains from a week of
sharp declines after new rules to clamp down on shorting of the shares,
and a dividend hike from Wells Fargo Co. helped to lift bank stocks in
buoyant trade Wednesday.

Wells Fargo charting path out of the woods, as investors cheer

Wells Fargo shares log their best one-day performance since the days
following the 1987 market crash, after the bank posts
better-than-expected earnings and raises its dividend 10%.

Economic Report: Home builders index hits another low

The home builders' sentiment index falls two points in July to
record-low 16, with all three components of the survey also dropping to
historic lows, the National Association of Home Builders reports.

The Fed: Some FOMC members pushed for quick rate hike: minutes

Some top Federal Reserve officials argue at the closed door meeting last
month of Fed officials that the central bank should hike interest rates
"very soon," according to a summary of the meeting.