Stocks slipped Wednesday as investors anxiously await Federal Reserve updates on interest rates and economic progress. It’s presumed that the Fed. Will continue to maintain it’s low rates, which hover near zero, until the recovery seems more stable but there remains a risk.
Investors are paying close attention to the most recent economic reports from the Fed. in an effort to asses when the central bank will begin withdrawing from government programs put in place at the height of the recession.
For weeks, many analysts and investors felt that things were improving; however, recent figures revealing a 7.6 percent drop in new home sales for December and a small spike in unemployment claims has people wondering whether that’s true.
Also distracting investors is the current hearing with Timothy Geithner for his involvement in the AIG bailout and the nondisclosure of select details that have many wondering if the Insurance giant was overpaid.
By early afternoon, the Dow Jones industrial average lost 34.46 points, or 0.3 percent, to 10,159.83. The Standard & Poor's 500 index slipped 3.87, or 0.4 percent, to 1,088.30, as the Nasdaq composite index dippled 0.76, or just under than 0.1 percent, to 2,202.97.
In typical form, Treasury prices experienced the converse, making gains as investors search for safe investments during this transitional period.
About EQUITIES:
Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.
Sign up for a free one-year subscription
