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This is an archive article published on July 15, 2010

Fed-speak freezes US stocks

A weaker economic forecast from the Federal Reserve has chilled the stock market's winning streak.

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A weaker economic forecast from the Federal Reserve has chilled the stock market8217;s winning streak.

The major indexes have closed narrowly mixed Wednesday after the Fed issued an econGkc forecast slightly more downbeat than the one it gave in April. Analysts said the forecast didn8217;t come as a surprise,although it did set off some initial selling.

Companies8217; upbeat earnings announcements and forecasts have helped offset concerns over the Fed8217;s assessment.

According to preliminary calculations,the Dow Jones industrial average is up 3 at 10,366. The Standard and Poor8217;s 500 index is down less than a point at 1,095. And the Nasdaq composite index is up 7 at 2,249.

Falling stocks were ahead of gainers by about 4 to 3 on the New York Stock Exchange. Volume came to almost 1.1 billion shares.

 

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