No recession, yet..

Stocks rise after Fed releases report

by Tim Paradis

(CNBC) Stocks were mostly higher Wednesday after a Federal Reserve report showing economic growth at the end of 2007 appeared to quiet some worries of a precipitous slowdown in the economy.

The modest rebound from a sharp pullback Tuesday came after Wall Street spent most of the session fluctuating while investors combed through corporate profit reports and news that supported varying views about the economy’s well-being.

Stocks gained after the Fed report — its Beige Book survey of regional economies — suggested economic activity increased modestly from mid-November through December, though at a slower pace than in a previous survey.

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