While you were sleeping: Data bolsters rate case

Tue, 24 Mar 2015

By Margreet Dietz March 25 (BusinessDesk) - Wall Street moved lower as an unexpected gain in new home sales as well as solid data on inflation and manufacturing bolstered the case for the Federal Reserve to begin raising interest rates soon. In afternoon trading on Wall Street, the Dow Jones Industrial Average fell 0.32 percent, while the Standard & Poor’s 500 Index retreated 0.35 percent, and the Nasdaq Composite Index slipped 0.11 percent. Declines in shares of Pfizer and those of Cisco, recently 1.3 percent and 1.2 percent weaker...

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