Stocks Mixed After Fed Cuts Rate
May. 15, 2001
NEW YORK (AP) _ Stocks remained mixed in afternoon trading Tuesday even after the Federal Reserve gave Wall Street the half-percentage point interest rate cut it sought.
The Dow Jones industrial average was off 42.75 at 10,834.58, recovering some ground from its earlier losses though unable to sustain a 65-point rise it saw immediately after the Fed decision.
Broader stock indicators were moderately higher. The Standard & Poor's 500 index rose 3.43 to 1,252.35, while the Nasdaq composite index was up 13.21 at 2,095.13.