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Stock Market & Financial Investment News

News Breaks
February 22, 2013
14:49 EDTAverages near session highs as end of week approaches
Stocks are just off their highs, with the Dow and Nasdaq each up roughly 0.7%. Advancing stocks are ahead of declining stocks by over 2:1 on the NYSE and Nasdaq. Up volume is ahead of down volume by a similar margin on the NYSE and by a nearly 3:1 margin on the Nasdaq. Crude oil prices are higher by 0.3% and gold is down 0.2%. The Dow is up 94 points, the Nasdaq is up 21 points and the S&P is up 9 points.
News For NOSYMBOL From The Last 14 Days
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March 18, 2015
14:40 EDTFOMC Forecast revisions
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14:39 EDTYellen says interest rate hike could be warranted at any meeting after April
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14:37 EDTYellen says many FOMC members lowered net exports outlook
14:33 EDTYellen indicates Fed hasn't decided on timing of interest rate hike
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14:25 EDTStocks rally after Fed drops 'patience' but reassures April rate hike unlikely
The Federal Reserve's Federal Open Market Committee, or FOMC, dropped its longstanding assertion that it would be "patient" in deciding when to raise rates. Instead, the central bank said it would determine when to raise rates based on progress towards its two objectives: maximum employment and 2% inflation. "This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments," the committee said. The FOMC added that it is not likely to increase interest rates at its next meeting in April, and stated that when it does decide to raise rates, it will "take a balanced approach" that is consistent with its two goals. Moreover, the committee reiterated that, even after its goals are reached, it may elect to keep rates below normal levels for some time. On the economy, the FOMC stated that economic growth appears to have moderated in recent months, while inflation has declined further below its target, largely because of energy prices. The FOMC's members unanimously backed today's statement. Stocks have rallied off their lows after the Fed's release and ahead of Janet Yellen's press conference. In afternoon trading, the Dow is up 132 points, the Nasdaq is up 28 points and the S&P is up 16 points.
14:25 EDTFX Action: A lot of dollar chop
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14:19 EDTFed alters 2016 inflation outlook to 1.7%-1.9% from 1.7%-2%
14:18 EDTFed lowers 2016 unemployment rate outlook to 4.9%-5.1% from 5%-5.2%
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14:16 EDTFed lowers 2016 GDP outlook to 2.3%-2.7% from 2.5%-3%
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14:15 EDTFed lowers 2015 inflation outlook to 0.6%-0.8% from 1%-1.6%
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14:15 EDTFOMC dropped "patient" and said a hike in April remains unlikely
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14:15 EDTFX Action: The dollar slipped
FX Action: The dollar slipped in the aftermath of the FOMC announcement and statement, taking EUR-USD to 1.0735 from 1.0640, and USD-JPY from 121.10 to 120.54 lows. Shorter yields fell back on the more dovish Fed take, while Wall Street turned moderate losses into moderate gains.
14:15 EDTTreasury Action: yields reversed lower
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14:14 EDTFed lowers 2015 unemployment outlook to 5%-5.2% from 5.2%-5.3%
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14:13 EDTFed lowers 2015 GDP outlook to 2.3%-2.7% from 2.6%-3%
14:10 EDTFed still not decided on timing of initial rate increase
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14:09 EDTFOMC Meeting Announcement Federal Funds Rate data reported
FOMC Meeting Announcement Federal Funds Rate at 0 to 0.25% vs. consensus of 0 to 0.25%
14:09 EDTWeek of 3/27 MBA Mortgage Applications to be released at 07:00
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14:03 EDTFed reaffirms 0%-0.25% target rate for federal funds
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14:02 EDTFed wants 'further improvement' in labor market to raise rates
The Fed said in today's statement, "The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term. This change in the forward guidance does not indicate that the Committee has decided on the timing of the initial increase in the target range."
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