Stocks end the day up, with the Dow Jones finishing just below a record close. Investors are keeping a close eye of the Fed’s 2-day meeting and are waiting anxiously to hear what the Fed’s policymakers have to say regarding interest rates. Many are fixating on whether there will be a change in the notion that interest rates will likely stay near zero for a “considerable time” after its bond purchasing program ends. Economists are split on whether the interest rates will rise sooner than expected. It seems like Microsoft’s (MSFT) final wave of layoffs will occur this Thursday. There is still around 5,000 employees, out of the expected 18,000, that still need to be let go.
Word on the Street
- Fed’s two-day meeting began today.
- 11 big players pushing the Nasdaq towards 5000.
- The U.S. dollar up on nine straight weeks of gains.
- Microsoft (MSFT) expected to lay off 5,000 this week.
- What you need to know before buying into Alibaba’s IPO.
- Allergan (AGN), Valeant and Pershing Capital agree on meeting.