NEW YORK (AP) -- The Federal Reserve's surprise decision to keep its economic stimulus program in place is reverberating on Wall Street and overseas. The stock market hit a record high Wednesday. Although the Fed also cut its full-year economic outlook for this year and next, traders just shrugged it off. The S&P 500 surged 21 points yesterday. The Dow jumped 147 points. The Nasdaq rose 38 points. Based on futures trading, Wall Street was looking at more record highs at this morning's opening.
BANGKOK (AP) -- International stock markets surged today after the U.S. Federal Reserve unexpectedly refrained from reducing its massive economic stimulus. Not even dour data out of Japan showing a swelling trade deficit could dampen the rally. Benchmark crude oil was on the rise, above $108 per barrel. The dollar gained against the yen and fell against the euro.
WASHINGTON -- Investors will be paying close attention to today's weekly jobless claims report. They'll also be getting the government's second quarter trade deficit report and the Conference Board's survey of leading economic indicators for August. The National Association of Realtors' will also release existing home sales for August and Freddie Mac will list weekly mortgage rates.
WASHINGTON (AP) -- Census Bureau data suggests a widening inequality even as the economy improves, leading to what one analyst calls a "selective recovery." The new data shows that lower-income households are a steadily increasing share of the population, while middle- to higher-income groups shrank or were flat.
WASHINGTON (AP) -- The music and movie industries are turning up the volume again over online piracy concerns. Entertainment executives say illegal downloads are on the rise and search engines like Google aren't doing enough to stop them. The industry's top lobbyists are trying to renew lawmaker interest in online piracy which has largely fallen off the radar.
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