Weak Action Ahead of the Fed
The weak market action in front of this afternoon's Federal Open Market Committee announcement is a little unusual. Over the last couple of years, the market has usually been upbeat going into Fed news, and rightfully so, as the central bank has tended to be market friendly.
But downgrades of Citigroup (C), Wells Fargo (WFC) and Bank of America (BAC) debt by Moody's are hurting the mood. Even before that, though, the action was poor outside of the big-cap momentum favorites....143 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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