Stocks breathed a sigh of relief today as the FOMC minutes clearly indicated that the Fed has no plans for immediate interest rate hikes. However, stocks closed mixed on the day with the DJIA as the laggard.
A series of corporate upgrades combined with take over rumors from RadioShack pushed stocks higher in the early session. However, as usual lately, the international situation triggered nervous investor to dump their shares prior to the weekend.
A lackluster, low volume market greeted investors on this first trading day of the new week. Good news that American International Group agreed to sell one its units kept the more bearish sentiment at bay during the session.