Stocks end mixed after the Fed announced that they will cut their monthly stimulus spending by an additional $10 billion. The Federal Reserve cited an improving economy and labor market as reasons to continue cutting the stimulus. The U.S. economy grew 4% in Q2, rebounding from the harsh winter weather in Q1. The U.S. posted better than expected growth during the second quarter after posting its worst performance in five years in the first quarter. Twitter’s (TWTR) shares were up 21% during trading today. Investors are now wondering how high Twitter’s shares could rise. This all comes on the cusp of Twitter releasing its plans to become as large as Facebook (FB).
Word on the Street
- U.S. economy rebounds, grew 4% in Q2.
- Twitter (TWTR) up 21%, how much higher will it go?
- The Fed reduces its monthly bond purchases by $10B.
- Amgen (AMGN) announces layoff of 2,9000 employees.
- The 10 most expensive stocks in America.
- Walmart’s (WMT) stock downgraded to ‘neutral’.
- Oshkosh (OSK) falls on weaker 3rd quarter earnings.