Hey there, Mid-Michigan, I’m Dave Boike from Retirement Resources, with your daily Money Matters market wrap-up.
The Federal Reserve announced today that interest rates would continue to remain at historic lows for an extended period of time. This news came on the heels of Standard and Poors’ second announcement in two days that a major country’s debt rating was dropped: Spain today and Greece yesterday.
The Federal Reserve’s decision potentially saved what could have been another negative day in the market. The Dow spiked 53 points, the Nasdaq rose by the slightest of margins finishing at 2,471 and the S&P 500 jumped a little more than seven points to finish at 1,191.
In local news, Ford Motor Company's stock dropped 2.36 percent, while Dow Chemical rose 5.85 percent. Gold finished the day up $5.60 to close at $1,167.80.
Heres hoping tomorrow's markets are better than today's!
I’m Dave Boike and your Money Matters.
