Markets Just Sneak A Win: Here's What You Need To Know

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Markets sagged after today’s FOMC minutes release, but stocks rebounded in the final hour.

First, the scoreboard:

  • Dow: Up 3.70 points, or 0.04%
  • S&P 500: Down 0.16 points, or 0.01%
  • NASDAQ: Up 7.81 points, or 0.35%

Now, today’s news:

  • The FOMC minutes showed an increase in worries among board members over the strength of the recovery and included a depressing projection that it would take five to six years to get back to our pre-crisis growth trend.
  • Barclays has cut its Q2 GDP estimate from 4.5% to 3.0% in the U.S.
  • Tech stocks boomed today after yesterday’s positive earnings results for Intel.
  • Star Gartmore trader Guillaume Rambourg has resigned due to a FSA investigation into his conduct. 
  • A House Committee has proposed a bill banning BP from obtaining new offshore leases for the next 7 years.

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