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Stocks Indexes Fell on the Fed's View on the Economy. Here's Why

Posted On: Nov 9, 2018   |   Posted By: Fortune

U.S. stocks closed off their early highs Thursday after the Federal Reserve issued a bullish view on the economy, while sounding a note of caution about a potential slowdown in business spending.
The S&P 500 Index closed down 7.06 points, or 0.3%, at 2,806.83 Thursday after rising as high as 2,814.75. The Dow Jones Industrial Average was unchanged, while the tech-heavy Nasdaq Composite closed down 0.5% at 7,530.88. The three indexes spent much of Thursday in positive territory before the Fed's assessment.
“Information received since the Federal Open Market Committee met in September indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate,” the Federal Reserve said in a monthly statement that is closely parsed by economists and investors.
An analysis by the Wall Street Journal of the Fed's statement showed that the Fed replaced last month's language about growth in both household and business spending with a sentence that read, “Household...

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