Share “News Summary: Stocks fail to hold onto Fed...”

News Summary: Stocks fail to hold onto Fed boost

Published on NewsOK Modified: December 12, 2012 at 4:00 pm •  Published: December 12, 2012
Advertisement

FED FIZZLE: Stocks ended the day little changed after a rally prompted by the Federal Reserve's latest economic stimulus program fizzled out. The central bank said it will keep spending $85 billion a month on bond purchases to drive down long-term borrowing costs and stimulate borrowing. Investors were briefly distracted but are more concerned about the crucial budget talks going on in Washington.

FIVE-WEEK HIGH: The Standard & Poor's 500 held at a five-week high. The index has advanced on speculation that lawmakers will reach a deal to avoid the U.S. going over the "fiscal cliff" in January.

BUFFET BUYBACK: Berkshire Hathaway's Class A shares jumped $3,169, or 2.4 percent, to $134,000 after the company paid $1.2 billion to repurchase 9,200 shares from the estate of a longtime shareholder. The board of Warren Buffett's company also approved paying higher prices for future buybacks.


AROUND THE WEB

  1. 1
    Texas State student rides her Barbie Jeep around campus after DWI arrest, Internet loves it
  2. 2
    Edward Snowden says Hillary Clinton 'ridiculous' to think emails were secure
  3. 3
    Man arrested for threatening to 'kill all white people' in La Plata, Md.
  4. 4
    11-year-old shoots, kills suspected home invader
  5. 5
    Pentagon Now Says Army Mistakenly Sent Live Anthrax to All 50 States
+ show more

FEATURED JOBS



× Trending business Article