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Mixed Results for Stocks on Wednesday after the Fed Falls Short

By: , dated June 20th, 2012
On Wednesday, stock indices continued to slide off after headlines from Bernanke and the Fed’s Operation Twist, extending its plan to switch to long term bonds until the end of the year. S&P 500′s 10 sectors were all negative after Bernanke’s speech and traders continue to look for factors to stabilize the economy and in particular the job market. JPMorgan Chase (JPM) had some surprising good news at the end of the day while Proctor & Gamble (PG) disappointingly pulled down the S&P 500. Oil prices in the US are at an 8 month low. Several announcements came from companies such as Microsoft (MSFT) and Research in Motion (RIMM), both making plans for future restructuring and software to attack their market competition.

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