Stocks Get Fed Boost, Offsets Early Weakness Tied to GDP

Comment

Shutterstock photo

The FOMC's positive assessment of the U.S. economy and decision to scale back asset purchases by another $10 billion breathed new life into the stock market Wednesday after the dismal Q1 GDP revision threatened to halt Wall Street's two-day winning streak.

All major indices close with constructive gains, with the S&P 500 outperforming due to strength in telecom and utility stocks. The Dow Industrials rebounded off key support at 16,500, while the Nasdaq Composite recovered choppy trade to end higher.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Commodities


More from MT Newswires

Subscribe






MT Newswires
Contributor:

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com