Latest Business News: Wall Street Wary, Awaiting Fed's Next Signal

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Latest Business News: Wall Street Wary, Awaiting Fed's Next Signal

Latest Business News: Wall Street Wary, Awaiting Fed's Next Signal
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Latest Business News: Wall Street Wary, Awaiting Fed's Next Signal

by Wochit 1:00 mins

Stocks on Wall Street showed weakness as investors appeared wary at the outset of a week packed with data and central bank meetings. Investors are looking ahead to Wednesday?s statement from the Federal Reserve for clarity on when the Fed will begin to pare its $85 billion in monthly bond purchases. Contracts to purchase previously owned U.S. homes fell in June, retreating from a more than six-year high touched the prior month, suggesting rising mortgage rates were starting to dampen home sales. The Wall Street Journal reports that Obama administration officials are stepping up meetings with Senate Republicans in hopes of avoiding a deadline clash over federal spending this fall. One of the flashpoints is the Republican demand to defund Obamacare as part of any deal.

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