Fed Stands Pat

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Just in from the Fed: There will be no change in short-term interest rates. Which was exactly what Wall Street was expecting; trading on both the Dow and NASDAQ was robust all day, and was expected to continue unflinching in the wake of the announcement. Faced with weighing the high-octane U.S. economy against the tenuous financial markets overseas, the Fed has not changed rates since late March; they will remain at 5.5 percent. In Money Daily.

Also: The battering that technology stocks have taken over the past few days looked to be over Tuesday--evidently, it's bargain-hunting time.