US stocks waver after Fed downgrades view of economy; Strongest month for market since January
NEW YORK, N.Y. – The stock market is ending mixed after wavering in response to the Federal Reserve’s latest assessment of the U.S. economy.
July was still the best month for the market since January.
The Dow Jones industrial average fell 21 points, or 0.1 per cent, to 15,499 Wednesday.
The Dow was up most of the day after the government reported that the U.S. economy grew more than economists expected in the second quarter.
The Standard & Poor’s 500 index lost a fraction of a point to end at 1,685. The Nasdaq rose 10 points, or 0.3 per cent, to 3,626.
Bond yields fell after the Fed said it would continue to support the economy.
Slightly more stocks rose then fell on the New York Stock Exchange. Volume was above average at 3.8 billion shares.
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