Wall Street advances on rate cut hopes

A jittery Wall Street advanced today, reversing some of Friday’s sharp losses as investors took a dismal new home sales report as a sign the Federal Reserve will lower rates this week.

Wall Street advances on rate cut hopes
Mon, 28 Jan, 2008 - 21:36

A jittery Wall Street advanced today, reversing some of Friday’s sharp losses as investors took a dismal new home sales report as a sign the Federal Reserve will lower rates this week.

The Dow Jones industrial average rose more than 176 points in a session that was relatively calm when compared with the turbulence of last week.

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