| Fed tries to rescue market
It would also lighten the burden on people with credit-card debt and adjustable-rate mortgages. Still, its effect on Wall Street wasn't overwhelmingly positive. The Standard & Poor's 500 index fell 14.69, or 1.11 percent, to 1,310.50, while the Nasdaq composite index lost 47.75, or 2.04 percent, to 2,292.27. The fact stocks didn't continue their steep plunge -- the Dow fell 277 points last Tuesday and 307 on Thursday -- was a positive sign, but economists and analysts said a full recovery wasn't likely in the near term. Frank Brooks, 62, who lives in the Harrods Creek area, said the market fluctuations of the past several weeks have been harrowing. A retired consultant, Brooks said he and his wife have about 60 percent of their savings in stocks, with the rest in certificates of deposit and other sources.
Microsoft's fiscal second-quarter profit climbed 79 percent; EU ...
EU antitrust officials said the deal would not cause competition problems in Europe because IBM's new market share for business analytics would be moderate with several strong rivals offering customers alternatives. Business-intelligence software helps big organizations gather data in "dashboards" that can be used to model such things as the financial impact of staffing changes or marketing moves. FINANCIAL SERVICES E-Trade posts $1.71 billion loss on sale of mortgage debt NEW YORK — E-Trade Financial Corp. posted a hefty loss for the fourth quarter. The company also said it sold a $3 billion portfolio of mortgage debt to Citadel Investment Group at a $2.2 billion loss Hampered by that sale, E-Trade lost $1.71 billion, or $3.98 per share, in the fourth quarter, after a profit of $176.7 million, or 40 cents per share, in the fourth quarter of 2006.
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