Wall Street hits record as Fed keeps stimulus in place
The Fed sustains its 85 billion dollar monthly bond purchases prompting a market surge. Stocks rise to new highs led by the S&P 500, Dow and Nasdaq while bond yields fall and gold jumps on inflation expectations. The Fed trims its year outlook but maintains stimulus to spur growth.
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FedEx reports 7 percent profit rise amid revenue dip
FedEx Corp. posted a 7 percent quarterly profit rise as ground shipping outpaced a weaker express unit. The company plans a 3.9 percent US express rate hike in January and maintains a 7 to 13 percent full year earnings growth target.
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Associated Press
FedEx Corp
Express
U.S
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Fed holds steady on bond purchases as stocks surge
The Federal Reserve kept monthly bond purchases at 85 billion dollars, delaying any taper as the economy shows uneven strength. Investors pushed markets to records with expectations of continued low rates while Bernanke cited slow job growth and a looming budget stalemate as risks.
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Starbucks guns policy stirs national debate
Starbucks faces backlash over its stance on guns as it runs full page ads saying guns are not welcome in its cases yet stops short of a ban. CEO Howard Schultz says the firm is not pro or anti gun and will serve customers who carry. The company seeks a balance amid pressure from gun control advocates and gun rights supporters. Starbucks has previously banned outdoor smoking near stores to extend its policy.
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Shannon Watts
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