Bernanke Confirms Support of QE Program as Economy Grows Moderately (FDX, EBAY)

Markets saw gains on Wednesday as the Federal Reserve released statements from their most recent policy meeting. Chairman Bernanke stated that the Fed would continue to support its stimulus plan. He also made comments that the economy would recovery this year but at a slow rate - the economy would grow between 2.3% and 2.8% and unemployment would fall somewhere between 7.3% and 7.5% by the end of 2013. After the meeting, oil futures ended higher and financial stocks like Morgan Stanley (MS) and Goldman Sachs (GS) were up as well.
FedEx (FDX) lowered its earnings forecast for the current year and saw shares fall almost 7%. Investors currently await a proposed solution for a Cyprus bailout after Tuesday's rejection by the government.

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Published on Mar 20, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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