Stocks Higher Ahead of Fed Decision

Stocks are trading higher on Tuesday, ahead of the Fed’s much
anticipated decision on interest rates. The Federal Reserve
announce its decision at 2:15 PM ET, with the market expecting at
least a 25bp cut.

In earnings news, Lehman Brothers
(
LEH |
Quote |
Chart |
News |
PowerRating)
reported
better-than-expected numbers, although what most commentators fail
to point out is that the numbers were slashed in the wake of the
recent turmoil in the credit markets.

Stocks rose in Europe but declined overnight in Asia. Troubled
U.K. mortgage lender Northern Rock gained 7% today, despite
further withdrawals by customers.

Crude oil prices continued their relentless march higher,
climbing above $81 for the first time.

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Stocks in Motion

Sonoco
(
SON |
Quote |
Chart |
News |
PowerRating)
Lowers Base Earnings Outlook For Q3, FY07 Citing Volume
Decline, Higher Costs (read
more
).

AutoZone
(
AZO |
Quote |
Chart |
News |
PowerRating)
Q4 Profit Increases On Higher Revenue And
Margin, Same Store Sales Decline (read
more
).

For more stories as they happen, go to our
Breaking News section.


Market Snapshot

Dow

79.75 13483.17

NASDAQ

12.52 2594.18

S&P 500

9.74 1486.39

NYSE NASDAQ

Volume

477,577,990 701,026,442

Up Volume

363,299,840 454,042,015

Down Volume

105,232,150 230,521,312

Advances

2,305 1,682

Declines

881 1,079

New Highs

51 37

New Lows

46 46


Strongest/Weakest Industry Groups

Strongest Industries

Weakest Industries

Industrial
Metals & Minerals

Manufactured Housing
Cement
Medical Practitioners
Electronics
Stores

Aerospace/Defense – Major Diversified





Economic
News

PPI (Aug): Actual -1.4% Consensus
-0.3%

Core PPI (Aug): Actual 0.2% Consensus 0.1%