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NEW YORK, July 30 (Xinhua) -- U.S. stocks closed mixed after fluctuating narrowly Wednesday, as investors mulled the U.S. Federal Reserve's latest policy
decision and a strong rebound of the country's gross domestic product (GDP) in
the second quarter.
The Dow Jones Industrial Average went down 31.75 points, or 0. 19 percent http://www.cheapnbajerseysbulls.com/Lauri-Markkanen-Jersey/ , to 16,880.36. The S&P 500 inched up 0.12 point, or 0. 01 percent, to
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Following the release of the Fed's policy statement Wednesday afternoon, the market moved back and forth, as the U.S. central bank announced a further
tapering of 10 billion U.S. dollars at the conclusion of a two-day policy
meeting as expected.
The Fed did not give any signal about when it would start to hike interest rates in reaction to a surprising uptick in the U.S. economic growth rate.
The U.S. central bank reiterated that it will likely be appropriate to maintain the current target range for the federal funds rate for a considerable
time after the asset purchase program ends.
Federal Reserve Bank of Philadelphia President Charles I. Plosser objected to the guidance http://www.cheapnbajerseysbulls.com/Dennis-Rodman-Jersey/ , arguing that the language of "a considerable time" is time dependent and does
not reflect the considerable economic progress that has been made toward the
Fed's goals, the statement showed.
The stock market initially went higher, as investors grew increasingly confident with the world's largest economy after a pair of key economic data
came in before the opening bell.
The U.S. economy grew at an annual rate of 4.0 percent in the second quarter after unexpectedly shrinking in the first three months this year, the U.S.
Commerce Department said Wednesday. The first quarter real GDP was upwardly
revised to shrink 2.1 percent.
The second-quarter GDP was driven by an upswing in consumer spending and private inventory investment, topping analysts' expectations of a 3-percent
growth.
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in July. Pr. ?
