Stocks rise after discount rate cut

NEW YORK (AP) — Stock prices are still gaining on Wall Street.

The Dow Jones industrials are gaining, after six straight days of losses.

The Federal Reserve today cut the discount rate to 5.75 percent from 6.25 percent, declaring that “downside risks” to the economy have increased appreciably.

It is still too early to tell how much of the buying is a relief rally after weeks of losses, and if the gains will stick.