Talk about taking good news poorly. The markets pushed lower, before recovering some losses at the end of the trading session, on what most outside observers would call good news. The Federal Reserve's Open Market Committee (FOMC) released notes showing confidence in the economy and a hesitance for additional quantitative easing. The QE program has been a boon to the markets, sending them on the amazing bull run we've witnessed recently. Fed Chairman Ben Bernanke hasn't taken it off the table, especially if the recovery was to falter, but is he simply pandering to a market hoping for one last boost?
With that in mind, let's take a closer look at how the major indexes are faring so far today and then take a closer look at several stocks making news.
Index |
Gain / Loss |
Gain / Loss % |
Ending Value |
---|---|---|---|
Dow Jones Industrial Average |
(64.94) | (0.49%) | 13,199.55 |
Nasdaq | (6.13) | (0.20%) | 3,113.57 |
S&P 500 | (5.66) | (0.40%) | 1,413.38 |
Source: Yahoo! Finance.
The FOMC notes weren't the only event affecting the markets. U.S. auto sales may have disappointed some analysts, despite just recording the best three-month run in four years, as they rang up an adjusted $14.4 million in annual sales. General Motors
Turning from what supporters say will become the "Apple of autos" to Apple
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