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Bernanke Releases Fed’s Newest Stimulus Plan, Stocks End Mixed

By: , dated December 12th, 2012
On Wednesday the Federal Reserve announced a new policy in order to keep recovery going in the jobs market and set further targets for unemployment and inflation rates. The bond-buying program includes new purchases of $45 billion worth of Treasurys. Bernanke also made comments that the economy would have a good year in 2013 as long as the White House can agree on a budget deal. After this news crude futures were boosted and US stocks made strong gains, with the S&P 500 reaching a seven-week high before settling back down by the end of the day. Costco (CSCO) saw its first quarter net surge 30% after reporting higher sales and Dolby Laboratories, Inc. (DLB) climbed 5.8% after announcing a one-time special $4 a share dividend. Also, due to lower fuel and food costs, US import prices marked the largest drop in five months. Import prices finally fell 0.9% after three consecutive months of gains.

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