Asian shares rose Thursday and
Shares rose in
In his speech Wednesday evening, the president ticked off details of some of his plan for
The plan comes on top of his proposal for
In Asian trading, markets in
In its latest policy update, the
“With no meaningful change to monetary policy or communication, this meeting was simply a message to market participants to sit back and observe as the economic recovery continues to unfold,” said
The yield on the 10-year
Stocks initially got a bump following the
The S&P 500 dropped 3.54 points to 4,183.18. The benchmark index hit an all-time high on Monday. The Dow Jones Industrial Average lost 0.5%, to 33,820.38. The tech-heavy Nasdaq gave up 0.3% to 14,051.03.
Smaller company stocks fared better than the bigger companies. The Russell 2000 index rose 0.1%, to 2,304.16.
The expectations for a strong rebound, and rising prices for oil, lumber and other commodities, have also spurred concerns over inflation and the prospects for higher interest rates. Those worries have helped fuel a rapid rise in bond yields from where they were at the start of the year.
In its remarks, the Fed noted that the economy and job market have “strengthened." And, while it acknowledged that inflation has risen, the central bank said it sees the increase as transitory. Fed officials have said they want to see inflation exceed their 2% annual inflation target before they’d consider raising rates.
Investors also focused Wednesday on corporate earnings, with dozens of companies reporting their quarterly results.
Investors punished several other companies that came up short with their most recent financial results.
In other trading, benchmark
AP Business writers