Stimulus Cut by an Additional $10 Billion; Dow Closes at a Record High
The Dow Jones closed at a record high today, with its last record high being on December 31st. Nasdaq and the S&P 500 also ended the day in the green. The Federal Reserve announced today that they will be cutting the stimulus by another $10 billion, despite the fact that the economy barely grew in the first quarter. The Fed will now only spend $45 billion a month on bond purchases, down from $55 billion. Facebook (FB) is now allowing you to remain anonymous on some apps. This new feature will allow users to anonymously login to apps that request you to login using your Facebook account, without sharing their personal identity.This feature is currently limited to a small number of apps, but will be available to more apps in the coming months.
Word on the Street
- 82,000 jobs added by small businesses in April.
- Ford (F) will create a new van, add more jobs.
- The Fed will cut the stimulus by another $10 billion.
- U.S. economy barely grew in Q1.
- Is Twitter (TWTR) "mainstream"?
- U.S. Treasury expects to pay off $78 billion this quarter.
- Zillow (Z) up as Chase Coleman buys stake.
Published on Apr 30, 2014By InvestorGuide Staff