Markets End Higher Ahead of Fed; Microsoft Boosts Dividend by 22% (MSFT, BA)
The Federal Reserve began its two-day meeting today and caused stocks to rise ahead of their guidance. The S&P ended above 1,700 for the first time since the beginning of August. The tech sector had a good day on Tuesday with several positive earnings reports and announcements. Microsoft (MSFT) was up after stating its dividend for the quarter would increase by 22%. Adobe Systems (ADBE) reported a lower Q3 profit but an increase in subscriptions, sending shares 4% higher.Boeing (BA) stock lifted along with its Dreamliner 787, making its first flight today. European and Asian markets were mostly lower on Tuesday. A released study by the Congressional Budget Office warned of the seriousness of the US' long-term debt problems. This puts pressure on the US to maintain a responsible budget and achieve faster economic growth.
Word on the Street
- Report shows homebuilders in the US are the most confident in nearly eight years.
- US poverty rate remains close to 15% despite a slowly recovering economy.
- Microsoft (MSFT) raises its quarterly dividend by 22%, carries shares higher.
- Chesapeake (CHK), Newfield (NFX) and other energy stocks gain on Tuesday.
- Labor Department announces home care workers will receive minimum wage and overtime protections.
- 3D Systems (DDD) and other printing companies gain after bullish review.
- ViroPharma (VPHM) Soars on Acquisition Chatter.
Published on Sep 17, 2013By InvestorGuide Staff