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The Fed is Expected to Cut the Stimulus Again; BMW & Mercedes Announce Recalls

By: , dated April 29th, 2014
Stocks close the day higher as investors continue to watch quarterly profit reports closely. The Federal Reserve is expected to continue to cut the stimulus package this week despite weak first-quarter economic growth. The economic growth data is expected to be released tomorrow morning with the Fed’s decision coming out later in the afternoon. U.S. home ownership rate dropped to a 19-year low in the first quarter as more households continued to rent and home sales remained relatively low. Mercedes and BMW are the most recent automakers to announce recalls. Mercedes is recalling over 284,000 cars in the U.S. and Canada, while BMW is recalling more than 156,000 automobiles in the United States.

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