Fed Hikes Rate to 4.25 - Market Update

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Market Update Analysis:

Fed Hikes Rate to 4.25%

Author: Elena Todorova
123jump.com
Last Update: 3:12 PM EST December 13 2005

Tuesday morning session was marked by cautious trading amid mixed earnings news and disappointing. Fed raised fed fund rate to 4.25%, the 13th rate hike since June 2004. Lehman Bros posted 41% profit rise in Q4 on 28% revenue rise, beating estimates. Best Buy Co reported fourth-quarter net income rise of 25 cents a share, but missed estimates of 30 cents a share. Cendant Corp. cut guidance compared with prior estimates.

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