US STOCKS-Dow ends at record as Fed upbeat on economy

miércoles 30 de abril de 2014 16:37 GYT
 

* Fed reduces monthly bond purchases, as expected

* Dow, S&P post gains for month, but Nasdaq down 2 pct

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

* Indexes: Dow up 0.3 pct, S&P up 0.3 pct, Nasdaq up 0.3 pct (Updates to close)

By Caroline Valetkevitch

NEW YORK, April 30 (Reuters) - U.S. stocks rose and the Dow ended at a record high on Wednesday after the Federal Reserve gave an upbeat view of the economy's prospects as it announced another cut to its bond-buying program.

Investors brushed aside data showing weak first-quarter economic growth, which was tied to the severe winter that hampered exports and hit investment spending.

For the month, the Dow and S&P 500 posted slight gains, while the Nasdaq dropped 2 percent following weeks of heavy selling in tech and biotech "momentum" stocks.

The Fed said in a statement it would reduce its monthly bond purchases to $45 billion from $55 billion, as expected. That will keep it on track to end the program as soon as October.   Continuación...