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US stocks end higher after Powell projects stronger economy

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The S&P 500 and the Nasdaq dropped on Wednesday as U.S. bond yields spiked ahead of the Federal Reserve's policy statement which could provide ...

REUTERS: Wall Street ended higher on Wednesday after the Fed predicted a fast economic recovery from the coronavirus pandemic and said it would maintain its interest rate at close to zero.

"The Fed statement today was more optimistic than some expected, they raised their outlook for both economic growth and the labor market. The market’s view of the statement is that it was fairly optimistic," said David Carter, chief investment officer at Lenox Wealth Advisors in New York.

 

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