Dow Closes Up 900 Points

Wall Street has made another big late-day move. The Dow was about 900 points higher at the closing bell on Tuesday afternoon.

Bargain hunters were on a rampage, in anticipation of a Federal Reserve rate cut on Wednesday. They grabbed stocks that have been pounded lower in recent sessions.

Investors looked past news of a sharp drop in consumer confidence. Instead, they're focusing on expectations that the Fed will cut its fed funds rate by half a point to 1 percent.

The market did fluctuate after the Conference Board said its index of consumer confidence has fallen to 38 in October, well below the 51 analysts expected.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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