Local stocks less up than down after Fed sends mixed signals
Wall Street swung to a mixed finish after the Federal Reserve hinted it may raise interest rates two more times this year, even as it held them steady Wednesday.
The S&P 500 finished the day 0.1% higher after pinballing between gains and losses following the Fed’s announcement. The Dow Jones Industrial Average dropped 232 points, or 0.7%, while the Nasdaq composite rose 0.4%.
Locally, just 10 of the 25 stocks on our Mobile-area list closed higher.
Two of them were automakers with assembly operations in the state.
Honda, eclipsed its 52-week high, closing up 2.1% at 32.48 a share. Toyota inched closer to its 52-week high on Wednesday with a 4.7% gain to close at $165.57.
Synovus Financial Corp., which operates 32 branches in 20 different cities and towns in the state of Alabama, and Spire were the biggest losers, dropping 3.4 and 3.2%, respectively.