S&P 500 edges into positive territory after Fed statement, bond yields remain higher
Stock indexes turned mostly higher, while Treasury yields remained up after the Federal Reserve, as expected, left its monetary policy setting unchanged and said the economy has made progress toward the standards it set for starting to slow down its bond-buying program --- but not enough progress to start tapering yet. The Dow Jones Industrial Average was down around 94 points or 0.3%, while the S&P 500 was up less than 0.1%. The Nasdaq Composite was up 0.5%. The 10-year Treasury note yield remained up 1.3 basis points at 1.249%, little changed from its level ahead of the statement, while the 2-year yield edged up 0.8 basis point to 0.211%. Fed Chairman Jerome Powell will hold his news conference at 2:30 p.m. Eastern.
-William Watts; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 28, 2021 14:14 ET (18:14 GMT)
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