Wall St ends down as Fed officials weigh in
NEW YORK (REUTERS) - United States (US) stocks fell on Friday as investors puzzled over the Federal Reserve's decision to maintain its stimulus measures as they heard opposing viewpoints from top Fed officials.
Despite lower closes in the past two sessions, the major stock indexes ended higher for the week. The Dow rose 0.6 per cent, the S&P gained 1.3 per cent and the Nasdaq advanced 1.4 per cent.
On Wednesday, the Fed surprised economists and investors with its decision to delay scaling back its stimulus.
St Louis Federal Reserve Bank President James Bullard, interviewed by Bloomberg TV, said a reduction of the Fed's US$85 billion (S$106 billion) monthly bond purchase programme beginning in October was possible. Mr Bullard later said in a speech in New York that low inflation meant the Fed can be patient in deciding when to scale back its pace of asset purchases.