- July 29, 2021
- Posted by: Stratford Team
- Category: Economy
Stock indexes capped a wobbly day of trading on Wall Street with mixed results Wednesday after the Federal Reserve said it was seeing improvement in the economy, but not enough to start dialing down its support measures.
The S&P 500 slipped less than 0.1% after giving up a brief afternoon gain. The Dow Jones Industrial Average fell 0.4%, while the Nasdaq composite rose 0.7%. The yield on the 10-year Treasury note held steady at 1.23%.
A slide in technology stocks, makers of household and personal products, and companies that rely on consumer spending weighed on the S&P 500. The pullback was kept in check by gains in communications, health care and energy stocks.
Following the Fed’s latest two-day policy meeting, the central bank said it was leaving its key interest rate unchanged and would continue to buy billions in bonds every month.
The Fed also noted that vaccinations were helping the economy, but it dropped a sentence in its statement that it…