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July 31, 2014

Mixed bag for stocks

NEW YORK (AP) — A cheerful report on the U.S. economy, rising profits and no surprises from the Federal Reserve left the stock market nearly where it started on Wednesday.

The news was nearly all good. The government said that the economy grew at a robust 4 percent annual rate this spring. Later in the day, the Federal Reserve did exactly what investors expected. It scaled back its support for the economy, while pledging to keep short term interest rates low “for a considerable time” after it stops buying bonds.


 
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