Daily Data Flow
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Stocks Rise on Earnings, Factory Data
U.S. stocks rose today, after two straight down sessions, to notch the S&P’s fourth straight weekly gain. The day’s rise was in part caused by factory data and earnings reports, as investors searched for hints of when the Federal Reserve may begin tapering its stimulus.
Global Factories Pick up the Pace in October
Last month, manufacturing across the world expanded, with U.S. factory output growing at its best rate in more than two years and China leading Asian manufacturing to its most rapid upturn in months.
Fed Fears Punish Stocks
As earnings reports continued to flow in, investors began to worry about when the Federal Reserve will begin tapering its stimulus, pushing stocks down for the day.
Fed Announcement Snaps Stock Success Streak
Investors took the Federal Reserve’s announcement of its intent to maintain its current easy-money policy as a sign of a weak economy and exited the markets, sending the S&P 500 down for the day and ending its four-session winning streak.
Gold Gains Early, Falls Back after Fed Decision
After making solid progress early in the day, gold fell back and posted a loss for the day after the Federal Reserve announced it will continue its current bond-buying policy.
Fed Maintains Easy Money
In its meeting today, the U.S. Federal Reserve decided to maintain its current $85 billion-per-month bond purchasing, citing the slowing economy as a major factor in continuing the easy-money policy.