Dow Rises After 5 Losses in Row
Blue-chip stocks closed modestly higher today as investors shopped for bargains after five straight sessions of losses.</br></br>The Federal Reserve's decision to keep interest rates unchanged was widely expected and had little impact on stocks or bonds.</br></br>The Dow Jones industrial average ended 5.64 points higher at 4620.42. In the broader market, declining issues outnumbered advancing stocks by about 6 to 5 on the New York Stock Exchange. Volume was moderate at 290 million shares, down from 303.19 million on Monday.</br></br>"We've entered a trading range where the bulls and the bears don't have the strength to pull themselves out," said William Raftery, technical analyst at Smith Barney.</br></br>The Fed's decision to leave interest rates unchanged came amid signs that the economy is recovering from its brush with recession earlier this year. The Fed lowered rates on July 6 for the first time in nearly three years.