Author: 123jump.com Staff
123jump.com
Last Update: 8:56 PM EST January 28 2008

U.S. stocks rallied ahead of the Fed meeting. Investors hoping that a rate cut of 0.75% last week will be followed by another rate cut of as much as 0.5%. Merger talks between Chicago Merc and Nymex heated up, after both companies confirmed on-going talks. Nymex jumped 11% on the news. Alliance Data Systems plunged 35% after Blackstone Group cited regulatory hurdle to the deal. Alliance disagreed with the assertion. McDonalds dropped 6% after its domestic stores reported weak sales in December.