US STOCKS-Wall St holds near steady after Fed statement

miércoles 30 de abril de 2014 14:38 GYT
 

* Twitter hits record intraday low, eBay also down after results

* Fed reduces monthly bond purchases, as expected

* Indexes: Dow up 0.2 pct, S&P up 0.2 pct, Nasdaq off 0.05 pct (Updates to after Fed statement)

By Caroline Valetkevitch

NEW YORK, April 30 (Reuters) - U.S. stocks held to nearly flat levels on Wednesday after the Federal Reserve announced another cut in its massive bond-buying program, as expected.

The Fed said in a statement that it would reduce its monthly bond purchases to $45 billion from $55 billion, a widely expected decision that keeps it on track to end the program as soon as October.

That the Fed looked past a dismal reading on first-quarter U.S. economic growth suggested confidence in the economy's prospects, however.

"No surprise at all. The Fed already said it expected some weakness because of weather, but it is also seeing growth pick up and consumer spending rising. Steady as she goes," said Wayne Kaufman, chief market analyst at Rockwell Securities in New York.

EBay remained the biggest negative influence on both the S&P 500 and Nasdaq. Its shares fell 4.7 percent to $51.95, a day after it forecast lower-than-expected earnings this quarter.   Continuación...