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Market News: Cablevision Systems, Rite Aid Corporation, Fitbit

The stock markets in the United States fluctuated and eventually ended the trading session with mixed results today. The Dow Jones Industrial Average ((DJIA) declined 0.39%, and the S&P 500 fell 0.26%. The NASDAQ and Russell 2000 gained 0.10% and 0.57%, respectively.

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The Federal Reserve maintained its policy on interest rates due to the recent global and economic developments such as the slowdown in China’s economy. The central bank reaffirmed the 0%-0.25% target range for the federal funds rate.

In a statement, Federal Reserve Chairperson Janet Yellen said reiterated their position that it would be appropriate to increase the federal funds rate when it “sees further improvement in the labor market and feels reasonably confident that the inflation will move back to its 2% objective over the medium term.”

In an interview with Bloomberg, Matt Maley, an equity strategist at Miller Tabak & Co commented that investors will now start focusing on the problems that caused the correction in August after the Federal Reserve made its decision regarding the interest rates.

Maley...


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