Unless Economy Improves, Fed Ready to Act; US Home Sales Rise
On Wednesday, the minutes from the Fed's most recent policy meeting were released and investors saw signals that action will most likely be taken fairly soon. Home sales data in the US was positive after a report that resales rose in the month of July. Negative news came from Japan and a larger than expected trade deficit, sending US indices slightly lower. Greece may be seeking a loan from the IMF by the end of this year. After hours both Hewlett-Packard (HPQ) and Guess (GES) reported earnings.Discover's (DFS) shares rallied after announcing an agreement with eBay (EBAY) over the PayPal paying service. Oil ended today at the highest settlement in three months.
Word on the Street
- Due to low interest rates and increased hiring, US home resales rose 2.3% for the month of July.
- Minutes from the Fed's last policy meeting released and help US stocks rebound.
- Discover (DFS) and eBay (EBAY) shares jump after announcing a PayPal deal.
- Hewlett-Packard (HPQ) reports a Q3 loss of $8.9 billion but shares are up.
- By the end of the year Egypt hopes to secure an IMF loan of $4.8 billion to help heal its economy.
- Guess Inc. (GES) sees weaker sales in North America and Europe, cuts its outlook for the year.
- Dell (DELL) Stock Lower After Hours, Reports Disappointing Q2 Earnings.
- One company's unique approach to getting their employees to be creative and spark new ideas.
- Forbes has released its top most powerful women that run the world and matter most.
Published on Aug 22, 2012By InvestorGuide Staff