Market Watch: Federal Reserve Wraps Up Two-Day Meeting

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U.S. stocks were slightly higher on Wednesday, as investors awaited the summary from this week’s meeting of the Federal Open Market Committee.

While Chairperson Janet Yellen is not expected to speak at the meeting’s conclusion, further clues are expected as to the timing of an interest rate hike. Most experts believe a rate hike during 2015 is a foregone conclusion; it’s just a matter of whether it occurs sooner or later.

Data releases revealed a nearly 2% drop in pending home sales during the month of June. Earnings reports will continue after the closing bell today, with Facebook, Samsung, Whole Foods and Marriott scheduled to file reports.

Here are the final numbers from Wednesday on Wall Street:

Dow Jones Industrial Average: 17,751.39 (+121.12)

NASDAQ: 5,111.73 (+22.53)

S&P 500: 2,108.57 (+15.32)

 

Phil Cannella
Partnered with CBS Radio Network, Phil Cannella reports on the issues most important to the American retiree.
Phil Cannella

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