November 28, 2007 at 10:00 AM EST
Opening Bell Report

Hints of an interest rate cut lifted the markets higher with the Dow surging nearly 200 points to 13,150. Nasdaq jumped 44 points to 2625.

On the upside

Citigroup (NYSE: C) led the financial services sector which continued to rebound on hopes of an interest rate cut.

Shares of Freddie Mac (NYSE: FRE) rose after the lender's sale of $6 billion in preferred stock triggered lower than expected debt protection costs.

An analyst upgraded online retailer Overstock.com (Nasdaq: OSTK) on valuation and its growth prospects.

On the downside

Shares of Bidz.com (Nasdaq: BIDZ) continued to lose ground due to a disappointing outlook.

Sonic Solutions (Nasdaq: SNIC) announced that it would missed 3rd quarter targets on lower revenues due to consumer uncertainty about DVD standards.

Shares of Semtech (Nasdaq: SMTC) fell despite the semiconductor maker posting profits that more than doubled on high demand for its analog and mixed-signal semiconductors.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 12 points to 756.

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