The stock market raced higher Wednesday despite a surprisingly hawkish Fed. AMD and Nvidia made powerful rebounds. Read More...
Argus Research
Market Update: IPG, M
Stocks fell on Wednesday morning ahead of the Federal Reserve’s policy statement and a press conference by Fed Chair Jerome Powell. The central bank is widely expected to announce a more accelerated tapering program, which could set the stage for interest rate hikes early next year. Retail sales were weaker than expected. The Commerce Department said that U.S. retail sales rose 0.3% in November, down from 1.8% in October and below the Bloomberg consensus forecast of 0.8% growth. The Dow fell 0.3%, the S&P 0.3%, and the Nasdaq 0.6%. Crude oil traded near $70 per barrel, while gold fell slightly to $1769 per ounce.
