The Joplin Globe, Joplin, MO

Business

June 20, 2012

Fed’s latest action doesn’t impress investors

NEW YORK — Stocks closed a little lower after the Federal Reserve’s economic update failed to give investors much to get excited about.

The Fed said it will continue its effort to keep long-term interest rates low. Investors liked that. But the Fed also said it’s seeing high unemployment and a depressed housing market.

Consumer products maker Procter & Gamble Co. said demand is slowing. Sales of its products, which include Tide detergent and Duracell batteries, are a good window into the economy.

The Dow Jones industrial average closed down 13 points at 12,824 Wednesday. The Standard & Poor’s 500 fell two points to close at 1,356. The Nasdaq gained a fraction of a point to close at 2,930.

Rising and falling stocks were evenly split. Volume was average at 3.8 billion shares.

 

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In an effort to curb prostitution, St. Louis police are targeting, and perhaps humiliating, the "johns" who use the services. Postcards mailed to the homes of those charged with trying to pick up prostitutes will offer a reminder about spreading sexually transmitted diseases, along with listing the court date. Do you think this is a good approach?

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