Fed Keeps Rates Unchanged, US Indexes Close Higher, RIMM Slammed Down

The Fed announced that interest rates would remain unchanged at 2% today resulting in an immediate, aggressive spike higher in the major indexes. The DJIA closed up today but well off its intraday high at 11811.83 adding +4.40, the Nasdaq climbed +32.98 to 2401.26 and the S&P 500 advanced +7.68 to 1321.97.

Research In Motion (RIMM | Quote | Chart | News | PowerRating) was slammed down in after-hour trading today, presently losing 8.99% or $12.49 to $129.88/share on missing analysts estimates and potential delays in releasing the “Bold” handset.

Oracle (ORCL | Quote | Chart | News | PowerRating) climbed $0.31 or 1.46% to $22.88/share on a strong 27% profit increase from software sales and acquisitions.

Ashland Inc. (ASH | Quote | Chart | News | PowerRating) added 9.25% or $4.46 to $52.67/share when the chemical company was upgraded to “neutral” by JP Morgan.

Baidu.com (BIDU | Quote | Chart | News | PowerRating) - China’s number one search engine added 8.27% or $25.37 to $332.09/share on speculation that it may beat second quarter earning estimates.

Oil dropped $2.57 to $134.43/barrel, Gold dipped $9.30 to $882.30/oz and the US Dollar fell against the Euro.