S&P 500, Dow fall while Nasdaq gains after Fed signals recovery has a ways to go before reaching goals: July 29
Stocks were mixed on Wednesday, with investors digesting a slew of earnings results and looking ahead to another set of reports. A monetary policy statement from the Federal Reserve is also slated for release.
Investors' main focus this week will be on the Federal Reserve's September monetary policy meeting, which will set the stage for more debate around the timing of tapering and the outlook for the economy. Other economic data out this week will focus on the housing sector.
Stocks pushed higher on Wednesday after dropping a day earlier, with a surge in oil prices helping fuel a risk-on move in markets. The move higher came following a drop earlier during the session as new tepid economic data out of China added to concerns over the pace of global growth.
Stocks ended lower on Tuesday to wipe out earlier gains as traders digested a new print on consumer inflation, which showed a slightly slower increase in prices last month.