Fed Says Growth Remains Moderate, Apple Drops Below $400 (AAPL, EBAY)

Despite advancing earlier in the day, the major indices in the US dropped sharply by the close of the bell on Wednesday. Apple (AAPL) led the decliners with a 5.5% loss in shares. Bank of America (BAC) slid 4.7% after releasing Q1 earnings and announcing its $500 million settlement over its Countrywide unit. American Express (AXP) announced late on Wednesday that its Q1 profit rose 2%, and EBay (EBAY) shared that its earnings were almost 19% higher than the same quarter one year ago.
The Fed released its most recent Beige Book today, stating that economic growth remains moderate in the US and is led by manufacturing, housing and auto sales.

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Published on Apr 17, 2013
By InvestorGuide Staff

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