{"id":1518,"date":"2010-11-03T15:12:00","date_gmt":"2010-11-03T15:12:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/market-heading-lower-fed-initiates-second-round-of-quantitative-easing\/1515\/"},"modified":"2010-11-03T15:12:00","modified_gmt":"2010-11-03T15:12:00","slug":"market-heading-lower-fed-initiates-second-round-of-quantitative-easing","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-heading-lower-fed-initiates-second-round-of-quantitative-easing\/1518\/","title":{"rendered":"Market Heading Lower; Fed Initiates Second Round of Quantitative Easing"},"content":{"rendered":"

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The U.S. equity market is headed lower, despite the announcement from the Federal Reserve that it will initiate another round of quantitative easing by buying $600 billion worth of Treasuries over an 8-month period. The Dow Jones<\/a> is currently down 0.09% to 11,178.73, the S&P 500<\/a> is currently down 0.04% lower at 1,193.10 and the Nasdaq is currently up 0.8% to 2,535.54.<\/p>\n

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The U.S. Federal Reserve announced that it will buy $600 billion worth of Treasuries to boost the U.S. economy. The Fed said that it will buy around $75 billion worth of long-term government bonds through the middle of 2011. Additionally, the Fed is also expected to reinvest in $250 billion to $300 billion worth of mortgage securities, during the same period.<\/p>\n

CenturyLink Inc. (NYSE: CTL<\/a>) reported its third-quarter financial results today. The company saw its revenue and profits fall in the third-quarter as consumers continued to move away from traditional wireline phone service. CenturyLink reported third-quarter earnings of $231.2 million, or $0.76 per share, down from $280.8 million, or $0.94 per share reported in the third quarter of 2009. Shares of CenturyLink Inc. are currently up 1.05% to $42.27, after touching a 52-week high of $42.35.<\/p>\n

MGM Resorts International (NYSE: MGM<\/a>) shares are soaring after the company reported its third-quarter financial results. The company reported a narrower third-quarter loss on fewer charges, strong results in Macau and an improvement in Las Vegas. Shares of MGM Resorts International are currently up 9.96% to $12.26, after touching an intra-day high of $12.27.<\/p>\n

Related posts:<\/p>\n

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  1. Market Continues to Climb as Investors\u2019 Confidence boosted by Fed\u2019s Report and Intel, JP Morgan Earnings<\/a><\/li>\n
  2. Market Finishes Higher<\/a><\/li>\n<\/ol>\n
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