Stocks remained stable after the Federal Reserve told investors that many of the economic supports put in place during the recession would come to an end next year. Policy makers had made it clear that steps to end the support would be taken but hadn’t disclosed specific dates.
The Federal Reserve announced that interest rates will stay near zero as Chairman Ben Bernanke has been assuring investors for several months. The low borrowing costs have been a boon for the market, inspiring a substantial rally in stocks for 2009 and making it unwise to alter during unsure times.
The Fed also expressed some optimism toward the ailing job market, the condition of which was described as “abating.”
The Dow Jones industrial average fell 11 points to 10,441. The Standard & Poor's 500 index gained 1 to reach 1,109 while the Nasdaq composite index rose 6 points to 2,207.
Two stocks improved for every stock that fell on the NYSE.
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