Stock prices ended higher after the Federal Reserve announced plans to buy billions of dollars more in government bonds. The Dow was up 26 points to 11,215. The S&P rose 4 points, while the Nasdaq was up nearly 7 points.
- The Federal Reserve says it will buy $600 billion more in Treasury bonds. The Fed said it would buy about $75 billion a month in long-term government bonds through the middle of 2011 to keep interest rates low.
- U.S. auto sales accelerated last month. General Motors, getting ready for an initial stock offering later this month, saw October sales rise 3.5 percent.
- Oil prices settled higher. Benchmark crude rose 79 cents to close at $84.62 on the New York Mercantile Exchange.
- Qualcomm reports financial results for the latest quarter that topped expectations by a wide margin, helped by strong sales of components for smart phones. The San Diego-based company develops chips and other technology for mobile phones. It also forecasts strong earnings for the current quarter.
© 2010 Associated Press. All rights reserved. Material may not be redistributed.
.jpg){kind=small}
