Morning business headlines
Friday, June 21, 2013 11:28 AM
Best guess: Fed's quantitative easing will end a year from now
The educated guess on when the Federal Reserve will trim its quantitative easing program is September, with the program ending altogether by June 2014, according to a Bloomberg survey of 54 economists.
Stocks rise a bit after 2-day sell-off prompted by Fed concerns
Stocks edged higher at the market's opening this morning, but continued volatility is predicted for the market because of the Federal Reserve's plan to scale back on its monthly bond purchasing program, reports Reuters. "We'll bounce around 1,575/1,600 (on the Standard & Poor's 500) as a recovery stage begins to take hold." Peter Cardillo, chief market economist at Rockwell Global Capital in New York, told the news service.
Instagram launches video app to compete with Twitter's Vine
CNN Money has (what else?) a video news report about Instagram's new 15-second video app that smartphone users can use to post video on their Facebook pages. The app competes with Twitter's 6-second Vine app.