![]() ![]() Expectations for GDP growth are still centered near 2 percent but did edge lower. ![]() The Fed’s quarterly forecasts were also released showing that policy makers still see two rate increases this year but at a slower path over the next two years. Otherwise, the text is an exact copy of the April statement. On the positive side, household spending is now strengthening and the drag from net exports is now lessening. The announcement was balanced with little change. Whole Foods dropped after the Food and Drug Administration said there were “serious violations” at a kitchen in Massachusetts that may have resulted in contaminated food.Īs expected, the Federal Reserve’s FOMC maintained its target fed funds range at 0.25 to 0.50 percent. Utilities and health care stocks fell more than the rest of the market. The Dow Jones industrials, S&P and Nasdaq all were down 0.2 percent. US stocks were higher Wednesday until the last half hour of trading when they slipped below the breakeven line and extended the losing streak to five days. ![]() Most stock indices advanced in anticipation of the FOMC and Bank of Japan announcements. ![]()
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