Bulls Take Fed Day Breather

Wall Street reached the closing bell in a standoff on Tuesday as the Fed signaling it still has enough ammo left to fight off a double-dip recession was enough to nudge the Dow to a fresh four-month high, but the S&P 500 lagged behind amid sinking bank stocks. Yesterday's Markets The Dow Jones Industrial Average rose 7.41 points, or 0.07%, to 10761.03, the Standard & Poor's 500 sank 2.94 points, or 0.26%, to 1139.77 and the Nasdaq Composite lost 6.48 points, or 0.28%, to 2349.35. The FOX 50 dropped 0.16 points, or 0.02%, to 822.42. U.S. markets searched for direction in the wake of the Federal Reserve's closely-watched policy statement, which showed the central bank has decided to keep interest rates extremely low and hold off on new measures to boost the economy, for now at least. After initially falling, stocks rallied solidly but then closed mixed due in part to pressure from financial stocks like Morgan Stanley MS. Read the rest here.