S&P 500 ends off day's lows; Powell says Fed still a ways away from rate hikes [Reuters]
Apple Inc. (AAPL)
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Source: Reuters
Indexes: Dow down 0.4%, S&P 500 down 0.02%, Nasdaq up 0.7% NEW YORK, July 28 (Reuters) - The S&P 500 ended little changed on Wednesday but off its session lows after the Federal Reserve said the U.S. economic recovery remains on track and Chair Jerome Powell said the central bank was still a ways away from considering raising interest rates. Keeping the market in check, shares of tech giant Apple Inc (AAPL.O) fell 1.2% after it forecast slowing revenue growth. read more In a news conference following the release of a new policy statement from the Fed, Powell also said the U.S. job market still had "some ground to cover" before it would be time to pull back from the economic support the U.S. central bank put in place in the spring of 2020 to battle the coronavirus pandemic's economic shocks. read more "It looks like probably the most positive thing for the market was that they are nowhere near increasing interest rates," said Alan Lancz, president, Alan B. Lancz & Associates I
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