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  • Fed's Stimulus Strategy Unchanged - 19 September 2013
  • In recent months there has been widespread consensus on Wall Street that the Federal Reserve will start tapering off its economic stimulus strategies by about $10 billion per month for the balance of the year. So the announcement from the central bank that it would continue its bond-buying program indefinitely, as is, was met with a mixture of surprise and relief by Wall Street investors, pushing markets up considerably by close of trade Wednesday. The Dow Jones industrial average rose 146.44 points (0.94 percent) to 15,676.17, the Standard & Poor's 500 Index climbed 20.67 points (1.21 percent) to 1,725.43, and the Nasdaq Composite Index was up 37.94 points (1.01 percent) to 3,783.64.

  • August Auto Sales Boost US Markets - 5 September 2013
  • Wednesday saw US stocks rise for the second consecutive day, with strong auto sales lifting investor confidence. The Dow Jones industrial average climbed 97 points (0.65%), the S&P 500 gained 13 points (0.81%) and the Nasdaq Composite rose 36 points (1.01%). Shares for both Ford and General Motors rose to their highest level this year, with Ford jumping 3.5 percent to $16.91 and General Motors climbing 5 percent to $35.85. Statistics for August reveal that the Chrysler Group had an increase of 12% compared with August 2012; General Motors was up 15%; Ford rose 12%; Nissan climbed 22%; and Toyota experienced an increase of 23% year-over-year. Economists are of the opinion that auto sales are an important gauge of consumer spending. It has also been noted that Americans who have held on to their cars for eleven years or more are taking advantage of the lower interest rates to buy new vehicles.


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