Stocks are Firm After Tuesday's Big Rally

By: AP Email
By: AP Email

New York (AP) Stock prices are mostly higher at midday on Wall Street.

Quiet trading has prevailed a day after the DOW soared 889 points. Investors await the afternoon announcement from the Federal Reserve on interest rates. Analysts expect the central bank to lower the benchmark fed funds rate by a-half point to 1 percent.

The Commerce Department reports that orders for durable goods, such as cars, appliances and machinery, rose 0.8 percent in September. That was stronger than expected.

Crude oil prices are surging. The Energy Information Administration reports crude inventories rose 500,000 barrels last week, a million fewer barrels than expected.

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