Breaking News Via Reuters:

-RTRS-U.S. FED CUTS BENCHMARK FED FUNDS RATE 1/4 POINT TO 2 PCT, DISCOUNT RATE 1/4 TO 2.25 PCT
-RTRS-FED SAYS UNCERTAINTY ABOUT INFLATION OUTLOOK REMAINS HIGH
-RTRS-FED SAYS READINGS ON CORE INFLATION SOMEWHAT IMPROVED, BUT ENERGY, COMMODITY PRICES UP
-RTRS-FED SAYS SOME INDICATORS OF INFLATION EXPECTATIONS HAVE RISEN RECENTLY
-RTRS-FED SAYS EXPECTS INFLATION TO MODERATE IN COMING QUARTERS
-RTRS-FED SAYS ENERGY, COMMODITY PRICES TO LEVEL OUT, PRESSURES ON RESOURCE UTILIZATION TO EASE
-RTRS-FED SAYS SUBSTANTIAL EASING OF POLICY, LIQUIDITY MEASURES SHOULD HELP PROMOTE GROWTH, MITIGATE RISKS
-RTRS-FED SAYS RECENT ECONOMIC ACTIVITY REMAINS WEAK, HOUSEHOLD, BUSINESS SPENDING SOFTENED FURTHER
-RTRS-FED SAYS FINANCIAL MARKETS REMAIN UNDER STRESS, TIGHT CREDIT, HOUSING DOWNTURN TO WEIGH ON GROWTH

Apple released the following earnings summary:

“APPLE REPORTS RECORD SECOND QUARTER RESULTS
APPLE INTERNATIONAL CO LTD   Q2 SHR $1.16
SEES Q3 2008 SHR ABOUT $1.00
Q2 REVENUE $7.51 BLN
SEES Q3 2008 REVENUE ABOUT $7.2 BLN
SAYS QUARTERLY IPHONE(TM) SALES WERE 1,703,000
SAYS APPLE SHIPPED 2,289,000 MACINTOSH COMPUTERS DURING THE QUARTER
SAYS SOLD 10,644,000 IPODS DURING THE QUARTER”

This info was pulled from the news release off the wire service, sorry for the weird format.

It should be noted that Apple’s shares slipped about 1% during after hours trading. Apparently, their projections for the upcoming third quarter were a bit lower than expected.

Via Reuters:

” OTTAWA, April 22 (Reuters) - The Bank of Canada cut its benchmark interest rate  on Tuesday by a half-percentage point to 3 percent, as expected, and signaled that  further easing was required but suggested it might pause before cutting again.
    In a statement which projected a steeper U.S. economic downturn that would  dampen Canadian growth, the bank said “further monetary stimulus will likely be  required,” but dropped a previous reference to the need for more cuts in the “near  term.”

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