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Market Update : 
U.S. Stocks Rise on Fed and Rate Plan
Author: 123jump.com Staff
123jump.com
Last Update: 6:13 PM EST November 30 2007

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U.S. stocks edged higher after trading up and down during the session. Dow added 0.45%, S&P increases 0.8%, but Nasdaq declined 0.3%. U.S. and several banks are in negotiations to hold firm interest rates on variable rate mortgages next year. U.S. markets jumped after the commnets from the Fed chairman reassured investors that another interest rate cut may happen after the next meeting.

 
Meiji Dairies led the decliners in the Nikkei 225 index shares with a decline of 4.27%, followed by losses in Daiichi Sankyo Company of 3.61%, in Mitsui Sumitomo Financial Group of 3.45%, in Chiba Bank of 3.16%, and in Yahoo Japan of 2.74%.

Nikkei news reported today Daiichi Sankyo Company would divest its entire holding in subsidiary Nippon Nyukazai Company and its 52% shareholding in Sino-Japan Chemical at the end of February 2008. The company wants to concentrate on its pharmaceutical business.
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