Wall Street closes higher after Fed says it will keep rates low Angie’s List changes its name to Angi
Stocks closed higher Wednesday, reversing an early slide after the Federal Reserve reassured Wall Street that it expects to keep its key interest rate near zero through 2023.
The central bank’s renewed commitment to keeping rates at rock bottom lows comes even as its latest economic forecast calls for growth of 6.5% this year and for inflation to top 2% for the first time in years. Wall Street has been anxious about the potential for higher inflation and has been looking for signs that the central bank shares investors’ concerns.
The S&P 500 rose 11.41 points, or 0.3%, to 3,974.12. The Dow gained 189.42 points, or 0.6%, to 33,015.37. The Nasdaq rose 53.64 points, or 0.4%, to 13,525.20. The Russell 2000 index of smaller companies picked up 16.87 points, or 0.7%, to 2,336.39.
Angie’s List has a new name: Angi. The company said Wednesday that it changed its name to better reflect what it does now. Founded in 1995 as an online directory to research and rate local plumbers and other home contractors, it has evolved into a site where users can book, schedule and pay someone to unclog a toilet or mount a TV to the wall.
“At its core, we’re not a list,” said Oisin Hanrahan, who was named CEO of the website’s parent company last month.
Hanrahan said the company went with Angi, instead of Angie, because it was a unique name no one else was using.
MILWAUKEE – A worker shot and killed two colleagues at a supermarket distribution center near Milwaukee before crashing his vehicle during a police pursuit and then killing himself, a union official and police said Wednesday.
The attack happened Tuesday night at the Roundy’s distribution center in Oconomowoc, about 30 miles west of Milwaukee, said Thomas Bennett, secretary-treasurer of General Teamsters Local Union No. 200. He said all three men were in their 40s.
Oconomowoc police said the suspect’s vehicle was spotted in Milwaukee after the attack and officers began to pursue it. The vehicle crashed and the suspect was pronounced dead at the scene from a self-inflicted gunshot wound, according to authorities, who didn’t release any names.