Showing posts with the label 2013; MarketWatch

U.S. stocks sink; Dow snaps 4-day win streak: Wall Street at Close Report May 1, 2013; MarketWatch.

By Kate Gibson , MarketWatch    NEW YORK (MarketWatch) — U.S. stocks declined Wednesday as the Federal Reserve said it would keep buying $85 billion in bonds each month, but may cut or increase the program depending on the economy.  “They are hedging against some weak economic data,” Liz Ann Sonders, chief investment strategist at Charles Schwab, said of the Fed’s language which opened the door to raising its bond purchases. “I don’t think it suggests they are considering it,” she added.  “For the most part, this is an expected nonevent,” Sonders said.  The Federal Reserve’s policy statement followed a two-day meeting, with the central bank’s open market committee maintaining its monthly bond purchases at $85 billion and leaving its benchmark-interest-rate target unchanged at zero to 0.25%.  “We are in this soft spot,” said Bill Stone, chief investment str