Author: 123jump.com Staff
123jump.com
Last Update: 4:12 PM EDT March 21 2007

With the decision to leave the target fed funds rates unchanged at 5.25%, market wasted little time in taking averages to a record level for the day. Financial stocks rallied but oil closed higher at close. Morgan Stanley rose on 69% rise in earnings, however, FedEx dropped on 2% lower earnings. U.S. Auto Parts, recently listed IPO, lost 40% of its value on the first earnings report as a public company. Cintas fell on lower than expected earnings and weak 2007 outlook. Nasdaq gained 47.