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- By Ryan Vlastelica 'Energy stocks have never offered such value,' Morgan Stanley says U.S. stocks have been in a strong uptrend in 2017, hitting dozens of records, but they achieved this ...
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Business News  

US stocks wobble after Fed announcement, but close higher
(AP Photo - Richard Drew)
By ALEX VEIGA
From Associated Press
September 20, 2017 4:11 PM EST

U.S. stock indexes overcame an afternoon wobble to close mostly higher Wednesday after the Federal Reserve said it would start reducing its huge bond portfolio next month and was still on track to raise interest rates later this year.

WASHINGTON (AP) — The Federal Reserve will begin shrinking the enormous portfolio of bonds that it amassed after the 2008 financial crisis to try to sustain a frail economy.

NEW YORK (AP) — Apple confirmed that its new Series 3 Apple Watch can encounter problems connecting to a cellular network. The problems arise when the watch joins unauthenticated Wi-Fi networks without connectivity.

WASHINGTON (AP) — President Donald Trump has made airlines' longtime goal of privatizing air traffic control a key part of his agenda to boost America's infrastructure.

WASHINGTON (AP) — The Latest on the Federal Reserve's monetary policy meeting (all times local): 3:20 p.m. Federal Reserve Chair Janet Yellen is staying mum about whether she wants a second term as the head of the U.S.

WASHINGTON (AP) — Sen. Bill Cassidy defended his health care bill Wednesday after late-night TV host Jimmy Kimmel accused the Louisiana Republican of lying to him about it, heightening the tension around the last-ditch GOP effort to make good on years of promises to repeal "Obamacare."

ATHENS, Greece (AP) — The captain and chief mechanic of a ship commissioned for an oil-spill cleanup operation outside Athens have been arrested on fuel smuggling charges, further complicating efforts to contain the oil that has polluted the Greek capital's coastline.

WASHINGTON (AP) — U.S. home sales fell 1.7 percent in August, pulled down by the effects of Hurricane Harvey and a worsening shortage of available properties.

LONDON (AP) — The British government has referred Twenty-First Century Fox's bid for satellite broadcaster Sky to competition authorities on public interest grounds, a move that sets up a six-month investigation into Rupert Murdoch's takeover plans.

WASHINGTON (AP) — It will come as no surprise if the Federal Reserve has an announcement to make when its latest policy meeting ends Wednesday: That it's ready to begin paring its enormous $4.5 trillion portfolio containing Treasurys and mortgage bonds.

TOKYO (AP) — Toshiba's board signed off Wednesday on selling its computer chip business to a group led by Bain Capital Private Equity, but the deal's future remains unclear as Toshiba's U.S.

FRANKFURT, Germany (AP) — A member of the European Central Bank's rate-setting committee says that it is time to start phasing out the bank's bond-purchase stimulus efforts.

BERLIN (AP) — Germany's Thyssenkrupp and Tata Steel of India signed a preliminary deal on Wednesday to merge their European steel operations, a combination that could lead to up to 4,000 job cuts.

The biennial Frankfurt auto show in Germany is Europe's biggest display of new cars and SUVs and cutting-edge technology. Although mainly focused on European models, the Frankfurt show also hosts the debuts of many cars and SUVs that are headed to U.S.

LONDON (AP) — Global stock markets were little changed Wednesday as investors took to the sidelines ahead of the U.S. Federal Reserve's announcement of the results of its meeting.

BEIJING (AP) — China has announced a crackdown on violations of patents and trade secrets in an effort to mollify foreign companies ahead of a visit to Beijing by U.S.

SANTA CLARA, Calif. (AP) — A chief gripe with Apple Watch is that it requires you to keep an iPhone with you for most tasks. The inclusion of GPS last year helped on runs and bike rides, but you're still missing calls and messages without the phone nearby.

LONDON (AP) — Retail sales in Britain rose far more than anticipated during August, official figures showed Wednesday, further reinforcing expectations that the Bank of England will raise interest rates in November for the first time in a decade.

DUBAI, United Arab Emirates (AP) — Saudi Arabia's sovereign wealth fund is creating an entertainment investment company as the deeply conservative kingdom loosens the reins on fun.

MADRID (AP) — Spanish fashion retailer Inditex, which owns the Zara stores, says its net profit jumped by 9 percent in the first half of its fiscal year, following strong growth in online and in-store sales.

SAN DIEGO (AP) — Dennis Lyon was a genetic train wreck. Cancer was ravaging his liver, lungs, bones and brain, and tests showed so many tumor mutations that drugs targeting one or two wouldn't do much good.

CAMBRIDGE, Mass. (AP) — Time was when renting an apartment in one of this college town's funky triple-deckers or two-family homes wouldn't cost an arm and a leg.

SEOUL, South Korea (AP) — Asian stock markets were little changed on Wednesday as investors took to the sidelines ahead of the Federal Reserve's announcement of the result of its meeting.

WASHINGTON (AP) — Senate Republicans are zeroing in on a tax outline that would add about $1.5 trillion to the government's $20 trillion debt over 10 years, justifying the spurt of red ink with promises of surging economic growth and a burst of new revenues.

TIJUANA, Mexico (AP) — Jose Luis Millan found a new crop of star employees at an upscale Tijuana car wash where customers cross the border from the U.S.