Northern Wyoming Daily News - Serving the Big Horn Basin for over 100 years

By MARLEY JAY
AP Business Writer 

Fed gives stocks a boost; technology and retailers rally

NEW YORK (AP) — U.S. stocks turned higher Wednesday after the Federal Reserve indicated it’s not in a hurry to raise interest rates too quickly. Retailers and technology companies led the way as the market erased some early losses.

 

May 24, 2018



NEW YORK (AP) — U.S. stocks turned higher Wednesday after the Federal Reserve indicated it’s not in a hurry to raise interest rates too quickly. Retailers and technology companies led the way as the market erased some early losses.

Stocks opened lower after a business survey suggested that the eurozone economy might remain weak for longer than experts had expected. Investors bought U.S. and European government bonds, which sent yields and interest rates lower and hurt banks. The S&P 500 index fell as much as 14 points early on.

The market turned higher after the Fed released minutes fro...



For access to this article please sign in or subscribe.



 
 

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2018