Fed weighs next step as bond program ends
Washington reports the Federal Reserve plans to end the $600 billion bond buying program in June while inflation risk remains debated. Chair Bernanke and officials prefer keeping rates near zero longer, though a minority urges earlier rate hikes to curb inflation amid rising oil and food prices. Bill Gross warns yields could rise if demand fades.
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Netflix posts first quarter gains as subscribers surge
Netflix adds 3.6 million customers in Q1 bringing total U S and Canada subs to 23.6 million. Revenue climbs to 719 million, earnings reach 60.2 million or 1 11 per share beating estimates. outlook hints at slower Q2 profits, shares fall after hours.
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New Home Sales Rise in March Amid Industry Struggles
New home sales rose 11 percent in March to a seasonally adjusted 300,000, rebounding after three declines but staying well below the 700,000 benchmark. The median price climbed to 213,800 amid a foreclosure-heavy market, with economists warning a quick rebound remains unlikely.
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Ohio gas up four cents as Libyan turmoil lifts crude prices
Ohio drivers face an average $3.86 for regular gasoline up 4 cents from last week amid Libyan supply disruptions and a 34 percent surge in crude oil since mid February.
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