Todays Business News

Fed holds rates at record lows to foster recovery (AP) AP - The Federal Reserve on Tuesday repeated its pledge to hold interest rates at record lows to foster the economic recovery and ease high unemployment.

Housing construction drops 5.9 pct in February (AP) AP - Housing construction fell in February as winter blizzards held down activity in the Northeast and South. The decline highlighted the challenges facing builders as they struggle to emerge from the worst housing slump in decades.

Stocks rise after Fed pledges to keep rates low (AP) AP - The Federal Reserve's mildly upbeat take on the economy and its plans to hold interest rates low gave stocks a lift.

Honda to recall 410,000 vehicles for brake problem (AP) AP - Honda Motor Co. will recall more than 410,000 Odyssey minivans and Element small trucks because of braking system problems that could make it tougher to stop the vehicle if not repaired.

Conn. officials feel pressure over job losses (AP) AP - Job cuts at United Technologies Corp. are adding to the political debate over taxes and other costs of doing business in Connecticut.

Brazen Conn. warehouse heist nets $75M in pills (AP) AP - In a Hollywood-style heist, thieves cut a hole in the roof of a warehouse, rappelled inside and scored one of the biggest hauls of its kind — not diamonds, gold bullion or Old World art, but about $75 million in antidepressants and other prescription drugs.

Tadawul edges higher Saudi Arabia's Tadawul All Share Index (Tasi) gained 0.54% to 6,613, with 67 stocks rising and 41 falling. Alinma Bank, the day's most active stock by value and by volume, rose 0.39% to SR12.90, while fellow market leader Kingdom Holding was unchanged to SR9.50. Samba Financial Group had the day's biggest rise, climbing 4.26 to SR61.00.

Fed renews vow to keep rates low WASHINGTON (Reuters) - The Federal Reserve renewed its pledge on Tuesday to keep interest rates near zero for an "extended period" even as it sounded more upbeat about jobs.

Wall Street hits fresh 17-month high after Fed NEW YORK (Reuters) - Stocks rose to a fresh 17-month high on Tuesday after the Federal Reserve held benchmark rates near zero and maintained its pledge to keep them low for an extended period.

The US stock market
A stock is a legally binding symbol of ownership in a company. When you purchase a stock, you actually become the owner of a part of a company - a share holder. Since one company can release a lot of stocks, the ownership is typically spread over hundreds or thousands or owners. Selling shares in a company is a way for that company to bring cash to the company.