On his previous Fed meeting in September, he announced a new quantitative easing program where he would buy $40 billion in mortgage securities each month until the economy improves.
FaceBook dominated the news yesterday with a there shares spiked 19.1% yesterday after reporting earnings of $0.12 on $1.26 billion in revenue. Investors welcomed the results as both numbers came in ahead of the market estimates. The company also pointed to improved results from its mobile advertising.
At the close of the US session, the Dow Jones industrial average shed 0.19 percent, to close at 13,077.34. The Standard & Poor's 500 Index dropped 0.31 percent, to 1,408.75. The Nasdaq Composite Index down 0.29 percent, to end at 2,981.70.
Today, Asian stock markets were mixed despite strong data out of Australia and China, as concerns over disappointing corporate earnings results from global companies continued to weigh on appetite for equities.
A Less-than-encouraging euro-zone PMI releases today kept the euro under moderate pressure. Both German services and manufacturing PMI fell short of estimates and Euro-zone Composite fell deeper into contraction territory.
Spain’s economic outlook also continues to hang in the balance. According to its central bank estimates, growth contracted by 0.4 percent in third-quarter from the previous quarter.
Daily Economic Calander
08:30 UK Gross Domestic Product (QoQ) (Q3)Preliminar
08:30 UK Gross Domestic Product (YoY) (Q3)Preliminar
12:30 US Durable Goods Orders (Sep)
12:30 US Durable Goods Orders ex Transportation (Sep)
21:45 NZ Trade Balance (MoM) (Sep)
21:45 NZ Trade Balance (YoY) (Sep)
23:30 JP National Consumer Price Index (YoY) (Sep)
23:30 JP National CPI Ex Food, Energy (YoY) (Sep)
23:30 JP National CPI Ex-Fresh Food (YoY) (Sep)
Gold futures bounced off the lowest level in seven weeks during European morning trade on Thursday, after the Federal Reserve reiterated its policy stance amid concerns over the U.S. economy yesterday.
The Federal Reserve announced no new measures at the end of a two-day meeting Wednesday but he did stay firmed regarding his previous decision to launch a new round of quantitative easing.
In its rate statement, the central bank said the economy is improving moderately, but that growth has been slow and unemployment remains elevated.