In half the time it takes to make a pot of rice, the stock market boiled over with joy about the Federal Reserve's 
decision to cut the federal funds rate by 50 basis points. The move shocked many, because it comes before the next Federal Open Market Committee meeting on May 15. Investors rushed to buy, sending many major sectors and indices flying in just 600 short seconds.
| 10 Minutes to Heaven | |||
| Market Index | Where it was at 10:50 a.m. | ... and 10 minutes later. | % Change |
| Dow Jones Industrial Average | 10,347.90 | 10,631.32 |   2.7% |
| Nasdaq Composite Index | 2025.10 | 2096.60 | 3.5% |
| S&P 500 | 1209.92 | 1240.65 | 2.5% |
| Philadelphia Stock Exchange Semiconductor Index | 630.51 | 671.24 | 6.5% |
| American Stock Exchange Networking Index | 437.58 | 457.15 | 4.5% |
| TheStreet.com Internet Sector Index | 247.57 | 257.64 | 4.1% |
| American Stock Exchange Securities Broker/Dealer Index | /506.11 | 524.58 | 3.6% |
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 12,890.46 | 1,351.95 | 2,927.23 | 20.47 |
Oil *
118.75
|
|
UP
6.51 |
UP
1.99 |
UP
11.37 |
UP
0.72 |
10 Yr
2.05%
SPDR Gold
168.02
|
|
+0.05%
|
+0.15%
|
+0.39%
|
+3.65%
|
Data delayed 20 minutes |
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