Stocks Slide as Market Parses Fed Comments

Stocks declined Tuesday as investors digested a slew of Fed statements. Disappointing comments from Home Depot and a rebound in the dollar weighed on the market.The dollar bounced back from a 15-month low on Monday after rare comments from Fed Chairman Ben Bernanke on the dollar. Bernanke said the central bank was ""attentive to implications of changes in the value of the dollar," but reaffirmed that the Fed planned to keep rates low for an "extended period."Speaking in Hong Kong, San Francisco Fed President Janet Yellen said setting interest rates can play a role in averting crises, but whether they should be set in response to asset prices is still an open question. Those remarks echoed similar comments from Bernanke yesterday.Richmond Fed President Jeffrey Lacker said a recovery is "solidly" underway and he expects the economy to grow at a "reasonable pace" next year. But he also made remarks that may be seen as a signal of Fed tightening, saying pockets of sluggishness in the economy should not prevent the Fed from beginning to unwind its extraordinary level of support."If we hope to keep inflation in check, we cannot be paralyzed by patches of lingering weakness, which could persist well into the recovery," Richmond Federal Reserve Bank President Jeffrey Lacker said in a speech to members of the Virginia House of Delegates.The Dow briefly turned positive after Lacker's remarks before dropping to new lows for the day.Just a few minutes later, the Fed announced plans to...
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AmEx Targets $10 Billion in Deposits

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Dow Claws Higher, Led by Microsoft

The Dow and Nasdaq clawed higher Tuesday after several positive analyst comments on Microsoft.But weakness nagged at the market, particularly the retail sector, after weak outlooks from Home Depot and Target. Plus, investors were parsing a slew of Fed comments.Microsoft [MSFT  Loading...      ()   ]...
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[$$] Fairholme Sticks to Quality Names

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Value of loans at biggest banks drops in Sept.

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