Huffpost Business

Stocks Rise On RIM, Merrill Reports

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Stocks jumped Friday following a better-than-expected rise in profits at Research in Motion Ltd. and on word that Merrill Lynch might have lined up a big cash infusion from a Singapore fund.

The developments seemed to allay investor fears that economic growth would succumb to tightness in the credit markets. Adding to the measure of relief some investors felt, the Federal Reserve said after the opening bell that it would continue with its special biweekly auctions for banks as long as was necessary to relieve strains in the short-term debt market.