Fed Officials Remain Wary of Financial Markets and Send Stocks Lower

Minutes from the Federal Reserve's latest policy meeting were released on Thursday, dragging down the US markets. Officials stated that bond purchases would last at most until the end of 2013 due to continuing concerns of financial stability. Job growth in the US remained steady despite an increase in new claims for unemployment benefits. The auto industry saw positive reports with sales jumping 12.5% in 2012. Sales are expected to hit 15 million within the coming year. Transocean (RIG) settled with the Justice Department for $1.4 billion over the 2010 oil spill.
Hormel Foods (HRL) announced their acquisition of Unilver's (UL) Skippy peanut butter products for $700 million. The tech and materials sectors finished lower for the day and the euro has now declined to almost a three-week low against the US dollar. John Boehner was re-elected as the speaker of the House on Thursday as well.

Word on the Street

Interesting Tidbits

Published on Jan 3, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

Posted in ...