U.S. Federal Reserve

U.S. Federal Reserve: TORONTO The Toronto stock market was lower on the last trading day of July as losses in mining stocks helped eclipse early gains on positive earnings news and the U.S. Federal Reserve offered no clues as to when it might start to wind down a key bit of stimulus, according to The Chronicle Herald. The loonie was ahead 0.3 of a cent to 97.37 cents US as the greenback further weakened following the Fed announcement mid-afternoon. However, bond yields were little changed with the benchmark U.S. 10-year Treasury at 2.65 per cent and The S P/TSX composite index declined 16.05 points to 12,565.7 as the U.S. Federal Reserve ended its two-day meeting on interest rates with by saying it would carry on with its monthly $85 billion of bond purchases and that rates will remain unchanged near zero. (www.immigrantscanada.com). As reported in the news.