STOCKS TICK UP: Here's what you need to know
All three major indices finished in the green, albeit to varying degrees.
First up, the scoreboard:
- Dow: 21,704.22, +90.79, (+0.42%)
- S&P 500: 2,477.59, +0.46, (+0.02%)
- Nasdaq: 6,418.80, +6.62, (+0.10%)
- US 10-year yield: 2.282%, -0.044
- WTI Crude: $48.73, +0.84, +1.75%
1. The Fed says the unwind of its $4.5 trillion balance sheet will start "relatively soon." The Fed also left its benchmark interest rate unchanged and planned to start shrinking its balance sheet "relatively soon," according to its policy statement released Wednesday.
2. The second-largest health insurance in the US might leave more Obamacare markets in 2018. Anthem Inc said it may leave more individual Obamacare markets due to uncertainty about the potential repeal of the healthcare law and subsidies that make the plans affordable for millions of Americans.
3. Boeing's stock jumped after second quarter earnings smashed expectations. The highlight of the planemaker's report was free cash flow that climbed above $4.5 billion, more than double analyst expectations. And in an effort to sweeten the pot for loyal shareholders, the company used $3.4 billion of that to buy back shares and pay out dividends.
4. Coca-Cola beats, boosted by demand for healthier non-carbonated beverages. Global volume sales of low and no-calorie soda drinks rose in the mid-single digits in the second quarter ended June 30, the company said.
5. Citigroup named David Bailin as the global head of investments for its private banking unit. The group, which generated $2.9 billion in revenue over the past 12 months, manages $390 billion in assets for some 10,000 high net worth and ultra-high net worth clients.
6. Facebook traders are bursting with confidence heading into earnings. Options traders are paying the lowest premium in more than a year to guard against a decline in Facebook's stock, relative to bets on a gain, according to data compiled by Bloomberg.
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