Annnnnnd we’re back with another Federal Open Market Committee (FOMC) release broken down into common English for you. Doesn’t it seem like it was yesterday when I was breaking down the last release for you all? Did you miss me and my feeble attempts to drive some humor into the FOMC release? I’m sure you recall the Wayne’s World references from last time, right? At any rate, the Fed met again this week to discuss the current state of the economy. It’s a lot of the same stuff from last time, but important nonetheless.
Hurricane Sandy has forced stock and option markets to close for the day, and bond markets to close at noon, as Wall Street braces itself for the largest Atlantic Ocean hurricane in the last 25 years. This is the first unscheduled market-wide shut down since September 2001. The SEC announced that depending on the size of the impact of Sandy, markets could be shut down tomorrow as well.
What’s Up on Wall Street?
The Dow Jones Industrial Average increased 3.53 points (0.03%) while the Nasdaq went up 1.83 points (0.06%). Also, the S&P 500 decreased 1.03 points (-0.07%).
Here are some of today’s rates:
Here are a few links to some of today’s financial articles. Be sure to leave a comment below if you know of any additional financial articles that are trending today.