Wednesday’s session closed with gains. Brands such as Bank of America, JPMorgan Chase, and Cisco led advancers on the Dow. Stocks stepped up in the wake of Alcoa’s favorable quarterly data released after the bell on Tuesday. Meanwhile, the Federal Reserve issued its latest Beige Book report. Comments were favorable, with “modest to moderate” growth noted and improvements in several districts in manufacturing, consumer spending and loan demand. Elsewhere, the Commerce Department reported that import prices increased by 1.3% in March, which was greater than expected and up from a downwardly revised dip of 0.1% in February.
Disclosures:
All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing.