Business

Stocks inch higher as traders ponder Fed exit

Advertisement

Stocks fell as the Fed said its top officials mostly agree its massive bond-buying program should wind down. The Dow fell a sixth straight day, its longest losing streak since July 2012. The index is off 4.9% since its Aug. 2 record high. In July’s minutes, Fed members said it ‘‘might soon be time’’ to slow bond purchases, which since 2008 have kept interest rates low, encouraged growth, and — some traders say — inflated stocks. Retailers again were in focus: Target fell as it gave a muted sales outlook for the rest of the year. Staples and American Eagle also sank. One bright spot: Lowe’s beat profit expectations and raised its full-year forecasts.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com