Stocks stepped up on Wednesday. Brands posted gains after the Federal Open Market Committee announced a decision to keep interest rates low until late 2014. Meanwhile, Boeing reported favorable earnings details. Net income hit $1.39 billion, or $1.84 a share in the fourth quarter, up from $1.16 billion, or $1.56, in the year-earlier period. On another note, the National Association of Realtors said the pending home sales index dipped by a worse-than-expected 3.5% in December, following a 7.3% rise to a 19-month high in November. Looking ahead, monthly new-homes sales data, and quarterly earnings from Bristol Myers Squibb, 3M and AT&T will be released tomorrow.
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