Fed-reserve Help Steady Us Inflation:

Discussion in 'Trading' started by bapunagar, Oct 26, 2006.

  1. U.S. stocks advanced, sending the Standard & Poor's 500 Index to its longest winning streak since March, after the Federal Reserve said that the economy is expanding and inflation is under control but also indicated that the growth us less then the expected. The central bank also indicated there still exist the caution of inflation. By the indication at the end of the second day meeting that gathered to discuss the cut down the interest rate may not be possible in the coming month. Federal Reserve Bank of Richmond President Jeffrey Lacker voted against a pause and for a quarter-point rate hike. The other 10 members of the Fed's policy-making committee voted to leave rates unchanged.
  2. patanx


    U.S. stocks erased some earlier weakness to trade higher Thursday, with the Dow Jones Industrials Average reaching another record high as a decline in energy prices and solid results from Exxon Mobil helped offset a pullback in the shares of Boeing Co.

    The Dow industrials advanced 6 points to 12,141, erasing earlier losses of as much as 39 points, and struck a fresh record high of 12,165.26 in intraday trading.
    The Nasdaq Composite Index was up 8 points at 2,365 and the S&P 500 Index was 3-points better at a 6-year high of 1,385.

    On the broader market for equities, advancers had a 20 to 12 advantage over decliners on the New York Stock Exchange, and led by 17 to 12 on the Nasdaq.

    The U.S. dollar dropped to a three-week low against the euro and fell against the Japanese yen as the Federal Reserve's latest monetary policy statement offered little hope of any rate hike increases in the near future.

    The euro was up 0.7% at a three-week high of $1.2693. Against the yen, the greenback fell 0.6% to 118.31.

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