Investors Take Optimistic View

Tue., Aug. 8, 2000

From Staff

Stocks rallied Monday on optimism that interest rates will remain stable in the face of recent economic data that suggests the economy is slowing.

The Dow Jones industrial average closed up 99.26 at 10,867.01.

Broader stock indicators were also higher. The Standard & Poor’s 500 index was up 16.39 at 1,479.32, and the Nasdaq composite index was up 75.63 at 3,862.99.

Investors are searching for clues as to whether the Federal Reserve Board will raise interest rates at its next meeting Aug. 22.

“We’re in an environment where investors may be a little confused. But I think we’re out of the woods in terms of the Federal Reserve Board wanting to raise interest rates. I think they’ll probably choose the path of least resistance,” said Al Kugel, senior investment strategist at Stein Roe & Farnham in Chicago.

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Investors Take Optimistic View

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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