The Fed said Wednesday that the U.S. job market has rebounded, with strong job gains in June after a slump in May. But it said in a statement after its latest policy meeting that it still plans to monitor global economic threats and financial developments to ensure that they don't slow the economy. The central bank gave no hint of when it might resume the rate hikes it began in December, when it raised its benchmark rate from a record low.
The Federal Reserve kept interest rates unchanged Wednesday but sounded a positive note: Near-term risks to the economy, the Fed said, have diminished. It noted that the U.S. job market has rebounded, with robust hiring in June after a deep slump in May. At the same time, the Fed said in a statement after its latest policy meeting that it plans to closely monitor global economic threats and financial developments to ensure that they don't slow the economy.
Stocks were moving mostly lower in late morning trading Wednesday as gains in technology stocks like Apple were offset by declines in consumer staples makers including Coca-Cola. Energy companies fell along with the price of crude oil.
This Monday, July 6, 2015, file photo shows a sign for Wall Street carved into the side of a building in New York. Stocks were slightly higher in early trading on Tuesday, July 26, 2016, as investors monitor corporate earnings from the likes of Gilead, McDonald's, Texas Instruments and others.
Asian stocks were mixed on Wednesday ahead of the Federal Reserve's policy statement, as strong U.S. economic data raised questions over the likely course for interest rates. KEEPING SCORE: Japan's Nikkei 225 rose 1.7 percent to 16,664.82 and Australia's S&P/ASX200 was down less than 0.1 percent at 5,537.20.
One of the quietest success stories in this year's equity rally is small U.S. financial companies, on track to set an all-time high even as their larger counterparts languish. Boosted by higher earnings and dividends, the Russell 2000 Financial Services Index has jumped 7.8 percent this year, extending an advantage in place since late 2014 in which investors have favored domestically oriented banks shielded from global turmoil.
North American stock markets were little changed Tuesday, as traders played it safe amid the latest meeting of the U.S. Federal Reserve. In Toronto, the S&P/TSX composite index was up a modest 51.90 points to 14,550, propelled by gains in the gold and mining sectors.
An ex-bonds broker who was at the center of a corruption case against former Arkansas Treasurer Martha Shoffner has paid off a $20,000 fine for violating regulatory laws. The Arkansas Democrat-Gazette reports that a court notice filed Monday shows 54-year-old Steele Stephens paid off the fine that he'd agreed to pay within a year of reaching an agreement with state regulators.
Stocks were slightly higher in early trading on Tuesday as investors monitor corporate earnings from the likes of Gilead, McDonald's, Texas Instruments and others. Slumping oil prices held the gains in check.
Chinese stocks gained Tuesday but other Asian markets fell... . People use mobile phone in front of an electronic stock indicator of a securities firm in Tokyo showing Tokyo's Nikkei 225 fell 1219.22 points to 16,401.07, Tuesday, July 26, 2016.