NEW YORK (AP) — Stocks fell yesterday after the Federal Reserve issued its statement indicating no new policy measures are planned to help the economy. The Dow dropped 66 points, or 0.6 percent, to 11,955. The S&P was down 11 points, while the Nasdaq shed 33 points. Futures trading suggests a higher open this morning.
BANGKOK (AP) — International stock markets were mostly lower today after the Federal Reserve refrained from offering new initiatives to help a slowly recovering U.S. economy. The Fed on Tuesday said that the U.S. economy, while improving, is still weak. Unemployment remains high, and it remains vulnerable to the European debt crisis, which could push the continent into a recession and slow U.S. growth.
SINGAPORE (AP) — There’s a warning out today about high crude oil oil prices. The International Energy Agency says prices threaten to worsen a global economic slowdown and crude producers should consider boosting output. Oil prices inched down below $100 a barrel today in Asia amid expectations OPEC will likely keep its output quotas unchanged.
WASHINGTON (AP) — On today’s economic calendar, the government reports on import prices. Also due, the Energy Department’s look at crude oil inventories.
KANSAS CITY, Mo. (AP) — Midwestern farmers who saw their land swamped by summer flooding may be socked again with steep increases in their crop insurance premiums, the expensive result of the failure to fix broken levees before the winter snow and next spring’s rains.