Federal Reserve Indicates Interest Rate Increase
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stu99/iStock/ThinkStock(NEW YORK) — Stocks rose higher on an indication from the Federal Reserve that it may be ready to raise interest rates later this year.
The Dow closed up 120 points while the NASDAQ rose 23 points. The S&P added 15 points.
Facebook reported its latest earnings after the close – it’s second quarter numbers beat expectations.
If you’re planning to make a big purchase, something you’ll need to finance, you may want to do it soon. The Federal Reserve has indicated it could raise interest rates later this year but it still wants to see more growth in the economy. It won’t offer a timetable for the increase.
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