Mixed Results on Wall Street
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iStock/Thinkstock(NEW YORK) — Wall Street stocks were mixed a day after that big announcement from the Federal Reserve.
The Dow Jones Industrial Average closed up 11 points at 16,179.08. The Nasdaq Composite dropped 12 points to close at 4,058.13. The S&P 500 was down 2 points at 1,809.60.
The markets gained the most in more than two months Wednesday after the Federal Reserve said it was trimming its stimulus efforts. Investors saw it as a vote of confidence in the economy.
Another factor perhaps moving the markets was an unexpected increase in first time jobless claims, up by 10,000 last week.
Meanwhile, rising mortgage rates and dwindling housing supply are two reasons given for a drop in home sales last month. Sales of previously owned homes slid more than 4 percent to the slowest pace in about a year.
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