Fed Sends Wall Street to Record on Plans to Maintain Stimulus

Wall Street ended higher on Wednesday after the Fed released surprising news that they would not be reducing its bond purchases and would watch for continued strength in the US economy. Stocks soared after this announcement - the S&P 500 reached another record high and metal futures jumped. Late in the day Oracle (ORCL) posted a higher profit for its fiscal Q1 and saw shares rise. Blackberry (BBRY) said that the company will be laying off 40% or 12,000 of its workers by the end of the year, sending shares lower.
Google (GOOG) announced on Wednesday that it will be forming a new health-care company named Calico. The US dollar saw a sharp decline after Bernanke said he would maintain the stimulus and the Fed cut to their economic forecast for growth in 2013.

Word on the Street

Interesting Tidbits

Published on Sep 18, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

Posted in ...