(Stock Trading News) Stocks' tug-of-war – CNNMoney.com
The central bank is widely expected to hold the fed funds rate, a key overnight bank lending rate, steady at historic lows near zero and to indicate that it will continue to do so for the foreseeable future. The Fed opted to boost the discount rate, the emergency bank lending rate, by a quarter-percentage point to 0. The Commerce Department report is also expected to show that building permits, a measure of builder confidence, fell to a 614,000 unit annualized rate from a 622,000 unit rate in the previous month. The weekly jobless claims report is also due in the morning, along with the Philadelphia Fed index, a regional reading on manufacturing. By clicking on “sign up” you agree with CNNMoney’s Terms of Service and Privacy Policy and consent to the collection, storage and use of this information in the U. read more
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