Stocks Still Way Up After Briefly Wobbling In Response To Smaller-Than-Expected Rate Cut

NEW YORK (AP) — Wall Street is still sharply higher while investors digest the Federal Reserve’s decision to cut interest rates by three-quarters of a percentage point. Many investors were expecting a cut of a full percentage point.

The Dow Jones industrial average is up about 265 points at the 12,237 level minutes after the Fed’s 11:15 a.m. announcement. The blue chips were up close to 290 points shortly before the Fed’s decision was released.

They pulled back to a gain of about 190 points before heading higher again.