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Stocks edged lower yesterday after the Federal Reserve

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blasher   Thursday, 08/02/12 09:10:09 AM
Re: blasher post# 10327
Post # of 10364 
Stocks edged lower yesterday after the Federal Reserve left its economic policies unchanged, dashing hopes for more stimulus measures. The central bank said economic activity "decelerated" and reiterated its former guidance, forecasting it is likely to hold interest rates near "exceptionally low levels" at least through late 2014. Also, ADP Employer Services said companies added 163,000 jobs in July compared to a revised 172,000 in June, better than economists forecast. Apple gained 4% this week amid speculation about a possible stock split and potential for its inclusion in the Dow. Comcast reported better-than-expected earnings and sales on growing subscribers base and gained 3.1%. In the evening trade Oracle slid 0.79% after Hewlett-Packard announced that it had scored a victory against Oracle after a California court ruled in its favor. Today investors will watch closely European Central Bank meeting as European leaders said they were ready to do whatever it takes to protect the euro. Implied volatility inched lower on moderate trading volumes.
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