Citing an improving economy and labor market, the Federal Reserve agreed Wednesday to continue to wind down bond purchases intended to hold down long-term interest rates and spur growth.
The Dow Jones industrial average was flat, but the S&P 500 and the Nasdaq both moved higher. Bind yields rose as well, a sign that investors believe the economy is improving.
Chief Executive Evan Spiegel founded Snapchat while he was a student at Stanford in 2011. It might now be worth $10 billion. Chief Executive Evan Spiegel founded Snapchat while he was a student at Stanford in 2011.
Twitter CEO Dick Costolo gestures during a panel discussion at the Consumer Electronics Show in Las Vegas on January 8, 2014. Robert Galbraith/Reuters.
Bank of America Corp. (BAC) is nearing a settlement with the U.S. Justice Department after raising its proposed offer to resolve probes into its sale of mortgage-backed bonds in the run-up to the financial crisis, according to people familiar with the talks.