Stocks have risen for the third straight day just minutes after the federal reserve bank boosted expectations that the central bank will once again act to stimulate the economy. In response to the discussions, the Dow Jones closed up 20 points after being down 99 points earlier in the day. The S&P was up 3 points and the Nasdaq up 14 points. Interestingly enough, the stocks were down significantly earlier in the day as the August consumer confidence numbers were released showing a 15 point drop – the lowest in two years. This report drove down many retail sector companies like Lowe’s and Kohl’s. Ed Butowsky, managing partner of Chapwood Investment Management, joins Fox Business’ Lou Dobbs to discuss how the fed’s actions can help or slow down the economy.
Ed Butowsky is the managing partner of Chapwood Investment Management and is an internationally recognized expert in the investment wealth management industry. Ed is also a frequent guest on other networks such as CNN, NBC, ABC, Fox News, Fox Business, and Bloomberg to name a few.
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Tags: consumer confidence, dow, economy, jones, money, nasdaq, News, retail sector, S&P, stock market, stocks