Summary Box: Stronger manufacturing news lifts stocks; DJIA up nearly 300 on the week
By APThursday, February 18, 2010
Summary Box: Stocks gain again on manufacturing
WHAT DID THE MARKET LIKE: The Philadelphia Federal Reserve said its index of regional manufacturing rose more than analysts had expected in January.
WHAT ABOUT WALMART: The market’s gains were kept in check by a poor outlook from the nation’s largest retailer.
HOW DID THE MARKET REACT TO THE FED: The Federal Reserve announced after the close of trading that it was raising the rate it charges banks on emergency loans. That sent the dollar higher against other currencies, which can be a negative for stocks.
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