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Wednesday, July 31, 2013

Daily Investor Briefing: S&P 500 ends flat after Fed statement...

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07/31/2013
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
S&P 500 ends flat after Fed statement
NEW YORK (Reuters) - The S&P 500 ended a volatile session nearly flat on Wednesday after the Federal Reserve gave no hint that a reduction in the pace of its bond-buying program is imminent. But the index finished July up 5 percent to mark its best month since January.
Fed stays on track with bond buying, for now
WASHINGTON (Reuters) - The Federal Reserve said on Wednesday the economy continues to recover but is still in need of support, offering no indication that it is planning to reduce its bond-buying stimulus at its next meeting in September.
Dell's buyout teeters as it rejects voting change
NEW YORK (Reuters) - Michael Dell's and Silver Lake's $24.4 billion bid to take Dell Inc private suffered a blow on Wednesday after the company's special committee rejected their request to change the voting rules in exchange for them offering $150 million more.
Ackman's Pershing Square unveils $2.2 billion stake in Air Products
By Svea Herbst-Bayliss, Swetha Gopinath and Ernest Scheyder
Under fire, Goldman offers way round warehouse lines
NEW YORK (Reuters) - Goldman Sachs responded to mounting political pressure and regulatory scrutiny of its Metro International metals business, by offering customers immediate access to aluminum stored in its warehouses on Wednesday.
Pershing Square tax lien offers peek into Ackman strategy
NEW YORK (Reuters) - A federal tax lien slapped on a small company that William Ackman's $12 billion hedge fund used nearly three years ago to acquire shares in a publicly traded liquor manufacturer is shedding light on his investment strategies.
U.S. economy finds momentum in second quarter, eyes further gains
WASHINGTON (Reuters) - U.S. economic growth unexpectedly accelerated in the second quarter, laying a firmer foundation for the rest of the year that could bring the Federal Reserve a step closer to cutting back its monetary stimulus.
U.S. auto sales set to maintain hot pace in July
DETROIT (Reuters) - Long Island car dealer Gary Brown is enjoying the summer heat brought on by consumers' increasing demand for new cars and trucks, and like the rest of the industry, expects sales in July will continue the trend.
MetLife second quarter result falls on derivative losses
(Reuters) - MetLife Inc reported an 80 percent drop in second-quarter profit due to higher derivative losses.
Fidelity Contrafund sours on Apple, bolsters Tesla bet
BOSTON (Reuters) - Fidelity Contrafund manager Will Danoff cut his stake in Apple Inc 28 percent during the first half of the year, citing the iPhone maker's "slowing growth profile."
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