Wall Street got a big boost from strong corporate earnings on Wednesday, with all three major indexes hitting record highs, while investors awaited the outcome of a two-day Federal Reserve meeting.
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CHICAGO Wal-Mart Stores Inc on Wednesday proposed 10 policy actions to boost U.S. manufacturing that the retailer said could help recapture $300 billion of the $650 billion worth of consumer goods that are currently imported.
NEW YORK Oil prices rose to near eight-week highs on Wednesday, with Brent crude futures at over $50 a barrel, as a fall in U.S. inventories bolstered expectations that the long-oversupplied market was moving toward balance.
Coca-Cola Co's profit, in its first quarter under new Chief Executive James Quincey, beat analysts' estimates on higher-than-expected demand for its healthier non-carbonated beverages as well as low and no-sugar versions of its sodas.
WASHINGTON The Federal Reserve is expected to hold interest rates unchanged on Wednesday and possibly hint that it will start winding down its massive holdings of bonds as soon as September in what would be a vote of confidence in the U.S. economy.
No.1 U.S. homebuilder D.R. Horton Inc reported its slowest growth in orders in three quarters on Wednesday even as it grapples with higher labor and lumber costs.