September 16, 2007	Sunday	Ramazan 03, 1428

NEW YORK, Sept 15: Wall Street’s renewed vigor over the past week has come from optimism about a Federal Reserve cut in interest rates, yet it remains unclear what happens if and when the Fed delivers.

Analysts say markets have priced in a reduction in borrowing costs and will look for hints from the central bank about further moves to keep the rally on track.

And some see turmoil in the market if the Fed does the unexpected or offers a message out of synch with sentiment on Wall Street.

In the week to Friday, the Dow Jones Industrial Average lifted 2.51 per cent to 13,442,52.

The broad market Standard & Poor’s 500 index added 2.11 per cent to 1,484.25 and the tech-heavy Nasdaq climbed 1.42 per cent on the week to 2,602.18.

The key focus for the market will be Tuesday’s Federal Open Market Committee meeting, expected to cut its base rate.—AFP