Major Incides Jump on Fed Statement (DIS, JPM)
In what seemed like a non-announcement, the Federal Reserve Open Market Committee said that they would not be changing their current, "highly accomodative" policy. Markets reacted very positively to this, however, with major indices increasing by over 1.5 percent. In corporate news, the Walt Disney Company (DIS) relealed its 2012-2013 programming slate. JPMorgam Chase & Co. (JPM) plans a $15 billion share buyback and a 20 percent increase in its quarterly dividends.
Word on the Street
- The Federal Reserve says it will stay on course, and markets reacted well.
- The dollar hit 83 yen today.
- US retail sales rose 1.1 percent in February.
- Virginia's unemployment rate fell to 5.8 in January, its lowest in 3 years.
- Direct Air, a cheap airline, has suspended its flights for two months.
- Disney (DIS) announced its upcoming program slate.
- JPMorgan (JPM) has authorized a $15 billion share buyback plan.
Published on Mar 13, 2012By InvestorGuide Staff