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2008 military base pay charts Stocks Gain after Fed Leaves Key Interest Rate Unchanged (0 viewing) 
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TOPIC: 2008 military base pay charts Stocks Gain after Fed Leaves Key Interest Rate Unchanged
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2008 military base pay charts Stocks Gain after Fed Leaves Key Interest Rate Unchanged  
Daily Newsletter — 6/25/2008
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Market Summary
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Market Summary
Stocks ended the session slightly higher on Wednesday after the Federal Reserve held a key short-term interest rate steady. As expected, the Federal Reserve opted to not reduce key interest rates due to the threat of inflation. Central bankers kept the fed funds rate unchanged at 2%. Market gains were initially accelerated by the news, but drifted closer to the flat line by the end of the session. In corporate news, American Express (AXP: Charts, News, Offers) announced that Mastercard (MA: Charts, News, Offers) will pay it $1.8 billion to settle an antitrust suit. General Mills (GIS: Charts, News, Offers) reported that its fourth-quarter profit dropped as the positive effects of commodity hedges wore off. Monsanto (MON: Charts, News, Offers) reported higher quarterly sales and earnings that jumped 40%. U.S. light crude oil for August delivery fell $2.45 to $134.55 a barrel after a government report showed that supplies increased by 803,000 barrels. Treasury prices slumped as stocks gained. The yield on the 10-year Treasury note, which moves opposite its price, rose 4.11 percent from 4.10 percent. In currency trading, the dollar fell versus the euro and rose against the yen. More Markets Data

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Market News
American Express Co. (AXP: Charts, News, Offers) has ended another round of litigation with a rival card company, but still faces serious headwinds from its customers. After announcing Wednesday that it will be getting $1.8 billion from MasterCard Inc. (MA: Charts, News, Offers) in settlement of an antitrust suit, the credit card lender
 
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