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August 18, 2016

Fed news lifts stock

NEW YORK (AP) — U.S. stocks closed barely higher Wednesday as big gains for utilities balanced out losses for retailers like Lowe's, Target and Staples.

Stocks fell in morning trading as a recent slump in phone company and utility stocks continued. But the indexes reversed directions after noon as those stocks turned higher, as did banks and household goods makers. Investors scrutinized the minutes from the Federal Reserve's late July meeting and found no suggestion the central bank is in any hurry to raise interest rates.


 
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