U.S. stocks are consolidated before the Federal Reserve meeting statement
Currently:Dow 12,089.81 +68.42 +0.57%Nasdaq2,617.03 +4.77 +0.18%S&P 1,242.38 +5.91 +0.48%
U.S. stocks are consolidated before the Federal Reserve meeting statement and as European equities rallied after Spain sold more debt than planned at an auction.
Stocks rose after open even after U.S. retail sales increased in November at the slowest pace in five months.
Then stocks pared gains after a report that German Chancellor Angela Merkel is rejecting an increase in the upper limit of funding for Europe’s permanent bailout mechanism.
American equities joined a global selloff yesterday as Moody’s Investors Service and Fitch Ratings said last week’s summit did little to ease pressure on Europe’s struggling governments and Intel Corp. (INTC) cut its revenue forecast.