The Joplin Globe, Joplin, MO

Business

Related Photos

  • businessnews.jpg

    businessnews.jpg

Discussion

June 20, 2012

Fed’s latest action doesn’t impress investors

From The Associated Press

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.

 

Text Only
Business
  • Business Stocks head lower, market on track for weekly loss

    The stock market headed slightly lower Friday, keeping on track for its first weekly loss in a month.

    May 24, 2013 1 Photo

  • Summer travel forecast: Better, but no blowout

    This summer, high rollers are flying to lavish hot spots for their vacations. The rest of us are driving to less luxurious places like nearby campgrounds.

    May 24, 2013

  • Schumer urges look at security in Sprint deal

    Sen. Charles Schumer urged regulators to “use extreme caution” when reviewing the proposed acquisition of No. 3 cell carrier Sprint Nextel by Japan’s Softbank, saying the Japanese company’s use of Chinese networking equipment could open up U.S. networks to snooping and hacking.

    May 24, 2013

  • Kid Rock, Rolling Stones on scalping, summer tours

    Kid Rock is a scalper. The 42-year-old Grammy winner, who is launching a summer tour where most tickets are priced at $20, said he’s holding about 1,000 tickets from each show and reselling them on ticketsnow.com — owned by Ticketmaster — to make up for the cheaper regular price he’s offering.

    May 24, 2013

  • US rig count down 7 to 1,762

    Oilfield services company Baker Hughes Inc. says the number of rigs actively exploring for oil and natural gas in the U.S. dropped by seven this week to 1,762.

    May 24, 2013

  • West Virginia joins fight to EPA greenhouse gas rules

    West Virginia’s governor and attorney general are joining two other states that are seeking to challenge federal environmental rules on greenhouse gas emissions.

    May 24, 2013

  • Why worry? Less aid by Fed would point to recovery

    Investors have grown nervous that the Federal Reserve will scale back its efforts to boost the U.S. economy sooner than many expected.

    May 24, 2013

  • Sears reports bigger-than-expected 1Q loss

    Sears Holdings Corp. reported a steeper-than-expected loss for its first quarter with the beleaguered retailer blaming a cooler spring for falling sales.

    May 24, 2013

  • Procter & Gamble brings back A.G. Lafley as CEO

    Procter & Gamble Co. is bringing back its former CEO, as the world’s largest consumer-products maker tries to spur global growth.

    May 24, 2013

  • Business Asia stocks extend losses after big sell-off

    Asian stocks continued to retreat Friday after being routed the day before by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary stimulus.

    May 24, 2013 1 Photo