Stocks Flat, Trimming Gains After Data
Stocks Flat, Trimming Gains After DataReuters
Stocks Flat, Trimming Gains After Data
Wednesday June 30, 10:58 am ET
By Rachel Cohen
NEW YORK (Reuters) - U.S. stocks were little changed on Wednesday, trimming earlier gains after a report showed manufacturing activity in the Midwest fell more than expected.
Investors stayed cautious before the Federal Reserve's decision on interest rates, expected to be a quarter-point increase later on Wednesday.
The National Association of Purchasing Management-Chicago said its index of Midwest manufacturing activity fell in June to 56.4 from 68.0 in May. Economists had forecast a median figure of 65.0. The result was still above 50, the threshold that delineates growth from contraction in the survey.
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