WASHINGTON All but a dozen restaurant stocks rose Tuesday on news that the Federal Reserve had lowered its benchmark interest rate by half a point to stunt the recent damage to the financial markets from housing and credit woes. The move also is expected to boost consumer discretionary spending, which typically is a boon for the restaurant sector. The Dow Jones jumped more than 300 points Tuesday and the Nasdaq rose 70 points.The Fed cut reduced the federal funds rate — or the rate ...
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Contact: Desiree Torres Desiree.Torres@penton.com