Closing Bell: Anheuser-SABMiller Deal on Rocks; Fed Leaves Rates

Easing worries over the economy helped to pull stocks out of the red, at least temporarily.
Publish date:

Easing worries over the economy helped to pull the Dow Jones Industrial Average out of the red on Wednesday. The Federal Reserve trumpeted solid U.S. economic improvement in a statement out this afternoon, a relief to those worried about the recovery. The Fed opted to leave rates unchanged following the conclusion of its two-day July meeting. The vote to hold rates steady was nearly unanimous, except for a sole dissenter. The Fed touted improvements to the economy, a signal many interpreted as openness to a possible September hike. U.S. Stee l (X) - Get Report roared higher after narrowing its quarterly net loss. The producer said it expects to continue to benefit from a pickup in prices. Anheuser-Busch (BUD) - Get Report fell on worries its hoped-for acquisition of SABMiller had hit a snag. Reports indicate SABMiller has halted integration efforts. The brewer has yet to accept a sweetened offer. TheStreet's Keris Lahiff has details from Wall Street.