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Wall St ends flat with Fed, BOJ up next

Tuesday, September 20, 2016 - 01:26

Wall Street ends little changed as healthcare gains countered declines in energy shares, a day before highly anticipated outcomes of monetary policy meetings in the United States and Japan. Bobbi Rebell reports.

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U.S. stocks remained focused on central banks as Federal Reserve policymakers started a two-day meeting.Traders have priced in only an 18 percent chance for an interest rate hike by Wednesday, according to the CME Group's FedWatch tool. Convergex's Nick Colas: SOUNDBITE: NICHOLAS COLAS, CHIEF MARKET STRATEGIST, CONVERGEX (ENGLISH) SAYING: "They are really trying to tease out what to do with rates. And I think the market broadly expects that they are not going to raise rates but they are going to craft some language around the release tomorrow that does indicate that they are ready to go probably in December without spooking the markets too much about the pace of further increases. " Also on the radar, the Bank of Japan, which is also meeting on monetary policy. Wells Fargo CEO John Stumpf told a Senate panel that customers that had bogus accounts opened in their name without their permission will be made whole. They will also be compensated for any damage to their credit rating. Allergan will buy liver drug developer Tobira Therapeutics for $1.7 billion. It could become part of a series of smaller deals after Allergan's failed $160 million dollar combination with Pfizer. Allergan is expected to boost dealmaking in sectors ranging from neurology to skin care. In Europe shares held relatively steady before the U.S. and Japan central bank decisions. The major country indexes closing mostly higher.

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Wall St ends flat with Fed, BOJ up next

Tuesday, September 20, 2016 - 01:26