Stocks ended the Thursday session mixed as investors digested the Federal Reserve's expected decision to maintain interest rates at their current level. The Fed's statement showed no significant changes from their prior meeting, while policymakers did deliver an upbeat assessment of the U.S. economy.
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|I:DJI||DOW JONES AVERAGES||24706.35||+336.25||+1.38%|
|I:COMP||NASDAQ COMPOSITE INDEX||7157.2276||+72.76||+1.03%|
The Dow Jones Industrial Average squeaked out a modest gain led by 3M, Cisco and American Express. As Caterpillar, Exxon Mobil and General Electric slipped.
|CSCO||CISCO SYSTEMS INC.||45.03||+0.82||+1.85%|
|AXP||AMERICAN EXPRESS COMPANY||100.48||+0.99||+1.00%|
|XOM||EXXON MOBIL CORPORATION||72.99||+0.86||+1.19%|
|GE||GENERAL ELECTRIC COMPANY||9.06||-0.08||-0.88%|
Traders also digested weekly jobless claims, which fell to 214,000, in line with economists’ expectations. U.S. Oil also slipped into a bear market, falling 20 percent from its highs, on the view more supply will enter the market.
Investors may also have taken a breather after the Dow soared more than 545 points on Wednesday following the midterm elections in which the Democrats took back the House, while the Republicans expanded control of the Senate.
Walt Disney, which is in the process of buying 21st Century Fox's entertainment assets, reported profits of $1.48 per share and revenues of $14.3 billion both of which exceeded analyst estimates. 21st Century Fox is the parent company of FOX Business and Fox News.
|DIS||WALT DISNEY COMPANY||111.04||+0.03||+0.03%|
|FOXA||21ST CENTURY FOX||48.74||+0.35||+0.72%|
On Wednesday, U.S. stocks soared with the Dow Jones Industrial Average jumping 545 points, moving above the 26,000 level for the first time in a month. Investors celebrated the outcome of the midterm elections after the predicted "blue wave" did not materialize.
FOX Business' Ken Martin contributed to this report.