Investor Midday: Fed to the rescue

Summary:A surprise interest rate cut added fuel to an already strong trading day as the Nasdaq surged 9 percent and broke through the 2,000-point barrier. At midday, the Nasdaq was up 161.

A surprise interest rate cut added fuel to an already strong trading day as the Nasdaq surged 9 percent and broke through the 2,000-point barrier.

At midday, the Nasdaq was up 161.99 points to 2,085.21, and the Dow Jones industrial average gained 390.52 points to 10,607.25. The trading day started out strong after Intel said its business was stabilizing and AOL Time Warner reported better-than-expected first-quarter earnings. Full story. --Tiffany Kary, ZDII

Topics: Intel

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