The Nasdaq rose on Wednesday, powered by a strong earnings report from Apple, while the Dow and S&P 500 turned higher after the Federal Reserve said it would keep interest rates near zero through at least 2014.
The U.S. Federal Reserve on Wednesday said it will not raise interest rates until at least late 2014, even later than investors expected, in an effort to support a sluggish economic recovery.
World stocks and the euro suffered on Wednesday as uncertainty about Greece's debt talks overshadowed strong economic data from Germany, blow-out earnings from Apple, and expectations that the Federal Reserve will push back the timing of an eventual rate hike.
HSBC Holdings PLC is under investigation by a U.S. Senate panel in a money-laundering inquiry, the latest step in a long-running U.S. effort to halt shadowy money flows through global banks, according to people familiar with the situation and a company securities filing.
The Federal Reserve looks set to keep monetary policy on hold on Wednesday, even as it releases forecasts expected to show interest rates will be near zero for at least two more years.
Gold prices struggled Wednesday to hold recent gains as the dollar rose and investors awaited results of the Federal Reserve's two-day meeting on interest rates.
A group of consumer advocates, academics and economists want to end too-big-to-fail banks, starting with Bank of America Corp.
European shares and the single currency held firm on Wednesday as investor focus switched to the broader economic outlook and some strong results from leading U.S. companies, and away from worries about the stalemate in Greek debt talks.
Asian shares rose on Wednesday, underpinned by strong earnings from U.S. technology giant Apple, stabilizing European money markets and falling eurozone debt yields, with investors shifting their focus from Europe to the U.S. Federal Reserve.
Gold fell on Tuesday as a lower euro, due to an impasse to restructure Greek debt, and weakness in crude oil and equities prompted investors to take profits.
The Federal Reserve is expected to break new ground this week by providing a clearer window into official thinking on monetary policy and is expected to signal that interest rates will be held near zero into 2014.
The Federal Reserve is expected to break new ground this week by providing a clearer window into official thinking on monetary policy and is expected to signal that interest rates will be held near zero into 2014.
The Federal Reserve opened a two-day meeting on Tuesday that is expected to end with a signal that interest rates will be held near zero into 2014.
The regulator for Fannie Mae and Freddie Mac told lawmakers that forcing the two mortgage firms to write down loan principal would require more than $100 billion in fresh taxpayer funds.
Stocks ended little changed on Monday as investors took a pause from a recent rally, awaiting earnings from bellwethers such as Apple later in the week.
The Federal Reserve could take the historic step this week of announcing an explicit target for inflation, a move that would fulfill a multi-year quest of the central bank's chairman, Ben Bernanke.
Stocks Rising, Bulls Rampant are motifs you might pick while designing a coat of arms for Wall Street at the moment. But its motto should read: Caveat Emptor. Yes, buyer beware.
The Federal Reserve previewed its new practice of announcing policymakers' interest rates projections on Friday, issuing a table that showed analysts may be able to guess where the policy consensus lies.
The rupee fell for the first session in seven on Friday as dollar demand from oil importers overwhelmed inflows, although suspected central bank intervention helped the currency recover smartly from the day's low.
The number of Americans filing for new jobless benefits dropped to an almost four-year low last week, and factory activity in the mid-Atlantic expanded moderately, suggesting the economy carried some momentum into the new year.
European banks are preparing for a potential worsening of the region's sovereign and banking crisis, with many firms stockpiling cash and cutting back on loans to new clients as they seek to protect themselves against a possible seizing-up of financial markets.
European banks are preparing for a potential worsening of the region's sovereign and banking crisis, with many firms stockpiling cash and cutting back on loans to new clients as they seek to protect themselves against a possible seizing-up of financial markets.
