The FED announced today that they will keep interest rates lower for a longer period of time. This had the Dow Jones rising and finally breaking positive on the year. (Thanks, Salesforce). The FED’s target inflation number is 2%, they don’t want it to rise above that percentage. However, J Powell agreed to “average inflation targeting,” meaning they’ll let it run above that 2% mark for a little bit. Banks stocks rose the most on the news.
Abbott Laboratories won approval from the Food and Drug Administration for a brand new Covid-19 test. Basically, it’s a portable $5 test that delivers results in 15 minutes. It can be used by health professionals and medical labs. The FDA used its emergency authorization program to set it up.
Our stock talk from yesterday, Keruig Dr. Pepper had itself a great day yesterday and today rising about 3% so far.