Stocks Rise Despite Likely Rate Hike

Wed., Feb. 2, 2000

From Staff

Stocks rose on the eve of the Federal Reserve interest rate announcement as investors bet that even a significant spike in borrowing costs won’t stop U.S. companies from posting strong profit growth.

The Dow Jones industrial average rose 100.52, building on its 201-point gain on Monday.

The stock rise coincided with the start of the Fed’s two-day meeting in Washington, where central bankers are expected to announce today a quarter-percentage point increase in short-term interest rates.

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Stocks Rise Despite Likely Rate Hike

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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