Publish date:

Markets Higher As Fed Winds Back, Investors Shrug Off Poor GDP

Markets closed higher after the Federal Reserve cut bonds purchases by another $10 billion as expected, citing an improvement in economic momentum.

Markets closed higher after the Federal Reserve cut bonds purchases by another $10 billion as expected, citing an improvement in economic momentum. Investors shrugged off a poor result for first quarter GDP of just 0.1% on poor weather, while private payrolls beat expectations. Monthly April payrolls are due Friday. Pepco jumped after Exelon agreed to buy it while Twitter and eBay slumped after disappointing results late Wednesday. Jane Searle speaks to Keith Bliss at the NYSE.

TheStreet Recommends