Fed still holding line on rates

By scott miller

Some upbeat earnings reports, two mega-deals and enough so-so economic news to convince some investors that the Federal Reserve will hold off raising its benchmark rate — all added up to a third straight winning week for stocks, as the S&P 500 rose 0.9 percent, the Dow 0.8 percent and the Nasdaq 1.2 percent.Going into the third-quarter earnings season, results were expected to fall 5.1 percent from the year before according to S&P Capital IQ, which would mean the first two negative quarters in a row since 2009. So far, with only 58 of the S&P 500’s companies having reported, …

Source:: Vail Daily Feed