Stocks are slightly up in mid-day trading today as technology companies lead the way. But with the U.S. Federal Reserve about to release details of its latest meetings, Wall Street is waiting with bated breath. The state of the economy's health will be addressed, and how results stack up with analyst expectations could have significant implications for how market activity will be going forward. Oil prices are reaching higher levels that it hasn't seen since 2008, when the bubble was still near its apex. Republicans in the House of Representatives proposed a $6 trillion budget cut and a 25 percent cap on taxes. The plan, unsurprisingly, focuses on slashing public funding for social programs such as Medicare, Medicaid, food stamps and others.
Major U.S. Stock Indices:
DJIA: 12,421.26 (+0.17 percent)
S&P500: 1336.41 (+0.27 percent)
Nasdaq Comp.: 2803.06 (+0.5 percent)
Russell 2000: 856.92 (+0.89 percent)
In other news:
- Is the Fed finally starting to worry about inflation? [Reuters]
- How the Nasdaq 100 rebalance could have a huge impact on Apple's stock. [WSJ]
- Remember during the last oil bubble how airline stocks were getting hammered? Well, please fasten your seat belt and return your seat to the upright position. It's going to be a bumpy ride. [Economist]
- There's certainly a lot of interest for a business that experts have been deeming obsolete. [Bloomberg]
- Is everyone ready for Page puns yet? If you don't know what we're talking about, you should Google it. [The Street]
Check back as more news develops.
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