Friday, August 8, 2008

Wall Street jumps as oil drops

Trader Eric Schumacher watches the numbers on the floor of the New York Stock Exchange before the Federal Reserve interest rate decision, Tuesday Aug. 5, 2008. Wall Street held on to a big advance Tuesday after the Federal Reserve left the benchmark federal funds rate target unchanged at 2% and assuaged some of the market's fears about the economy. (AP Photo/Richard Drew) Reuters
NEW YORK (Reuters) - Stocks rose on Friday as a further drop in oil prices buoyed hopes that inflation will ease, stimulating spending by businesses and consumers, which would restore corporate profit growth.

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