Minutes from the Fed's April Meeting Released; Stocks Rally
Stocks end the day up, with the Dow Jones gaining almost 160 points. This increase is partially due to luxury retailers, which were led by Tiffany's (TIF) whose shares ended the day up 9%. The minutes from the April FOMC meeting were released today and investors were searching for clues that would help determine when the interest rates were to be raised. While the economy and job market seem to be picking up, the weak housing market is a continual concern for the Federal Reserve. eBay (EBAY) encourages all customers to reset their account passwords.The online auction site revealed today that hackers "quietly" broke into eBay and stole a significant amount of user info nearly two months ago.
Word on the Street
- Policy Normalization discussed at April FOMC Meeting.
- Russia, China sign a 30-year natural gas deal.
- Feds concerned about housing weakness.
- Yelp (YELP) installs video features to its reviews.
- McDonald's (MCD) closes headquarters in response to protesters.
- TGI Fridays was sold yesterday.
- Dicks Sporting Goods (DKS) slides on lower projections.
Published on May 21, 2014By InvestorGuide Staff