IBT Staff Reporter

President Barack Obama and members of Congress agree that cutting the federal deficit is important but what should be cut and by how much is the debate ahead as the next budget battle takes shape.

Boeing Co. E.I. du Pont de Nemours and Co. drive Dow to highest point since June 2008.

Xerox Corp issued a first-quarter profit forecast that was at the low end of Wall Street estimates and announced the retirement of its longtime finance chief, sending its shares down 8 percent.

Eastman Kodak Co reported a far larger-than-expected quarterly loss and a 25 percent drop in revenue on weakness in digital and licensing sales, sending shares down more than 7 percent.

U.S. stocks rose on Wednesday with the S&P 500 hitting a 29-month high, led by gains in commodity and tech shares after the U.S. Federal Reserve gave a lukewarm economic assessment.

Following is the Federal Open Market Committee's statement on interest rate policy issued at the close of its meeting on Wednesday:

The S&P 500 closed at a 29-month high on Wednesday, led by gains in commodity and technology shares, as investors largely ignored the U.S. Federal Reserve's lukewarm economic assessment.

History has shown that the ratio between the median cost of a new home and the median household income in the U.S. is a key indicator of how the overall economy will perform.

Investors fearful that high-flying stocks may be set for a drubbing will be eyeing Netflix's earnings with their fingers on the sell button on Wednesday afternoon.

The S&P 500 closed at a 29-month high on Wednesday led by gains in tech and commodity shares, as investors largely ignored the U.S. Federal Reserve's lukewarm economic assessment.

South Korea today proposed a time and place to meet with North Korea, following an agreement the nations reached last week to resume talks. The meeting is projected to take place on Feb. 11 in the Demilitarized Zone that separates the two nations.

Up to 10 companies in the hot clean tech sector will go public in multibillion dollar offerings this year and as many will be acquired in equally significant deals, VantagePoint Venture Partners Chief Executive Alan Salzman told Reuters.

Up to 10 companies in the hot clean tech sector will go public in multibillion dollar U.S. offerings this year and as many will be acquired in equally significant deals, VantagePoint Venture Partners Chief Executive Alan Salzman told Reuters.

The famous 20-year-old telescope spots an ancient galaxy approximately 13.2 billion years old.

Apple removed a notorious anthem of the Nazi Party from the German version of its iTunes online music store on Wednesday, a German spokesman for the U.S. firm told Reuters.

It is realistic that the U.S. Treasury will sell all of its General Motors Co stock within a year, the Wall Street Journal reported on Wednesday, citing an unnamed Treasury official.

The S&P 500 closed at a 29-month high on Wednesday, led by gains in commodity and technology shares, as investors largely ignored the U.S. Federal Reserve's lukewarm economic assessment.

After a shock quarter-final loss to David Ferrer in the Australian Open, World No. 1 Rafael Nadal revealed that he was still uncertain about the injury that had deprived him from playing at his highest level.

The price of Gold Bullion rallied from its lowest level since 28th Oct. early in London on Wednesday, but remained nearly $100 per ounce off Dec.'s all-time highs in what dealers called very quiet trade ahead of today's US Federal Reserve announcement on monetary policy.

Ventana Gold, a Canadian gold explorer operating in Colombia, has extended its poison pill takeover defense to Feb. 15, the same day a hostile takeover bid from Brazil's Eike Batista is set to expire.

Microsoft Corp sold more than 2 million units of its new Windows Phone 7 software to handset makers last quarter, a strong start for the new software launched in October, but still far behind Apple Inc's iPhone and Google Inc's Android system.

Barclays Plc is to cut about 1,000 UK jobs as it stops offering financial planning advice in its branches, in further evidence the bank is sharpening the knife on areas of sluggish profitability.

The U.S. Federal Reserve gave a lukewarm economic assessment on Wednesday despite recent signs the recovery was strengthening, saying high unemployment still justified its $600 billion bond-buying program.

Sales of new homes raced to their highest level in eight months in December, but gains were driven by a surge in the West that economists were reluctant to call a sign of a recovery in the market.

New single-family home sales raced to their highest level in eight months in December while prices were the highest since April 2008, raising cautious optimism for a housing market recovery.

In his State of the Union address last night, President Obama devoted several lines to the slumping stature of U.S. education, by our own standards and globally.

New U.S. single-family home sales in December rose to their highest level in eight months and prices were the highest since April 2008, raising cautious optimism for a housing market recovery.

New U.S. single-family home sales in December rose faster than expected to their highest level in eight months and prices were the highest since April 2008, raising cautious optimism for a housing market recovery

New U.S. single-family home sales in December rose faster than expected to their highest level in eight months and prices were the highest since April 2008, raising cautious optimism for a housing market recovery