Stocks End Flat after Fed Minutes

U.S. stocks ended little changed on Wednesday after the release of the FOMC minutes. The Dow Jones Industrial Average shed 8.68 points, or 0.06%, to 15,291.66. The S&P 500 index was up 0.30 point, or 0.02%, at 1,652.62. The Nasdaq Composite added 16.50 points, or 0.47%, to 3,520.76.

About half of the Federal Reserve’s 19 senior officials said they would support ending the central bank’s monthly
purchase of $85 billion in bonds by year-end, according to an account of the most recent Fed policy meeting released Wednesday.

Yum Brands Inc. (NYSE:YUM) late Wednesday reported its second-quarter earnings fell to 61 cents a share from 69 cents a year earlier. Excluding items, the parent company of KFC, Pizza Hut and Taco Bell earned 56 cents a share, down from 67 cents a share in the same period last year. Revenue totaled $2.9 billion, slipping from $3.12 billion a year ago.

Bruce Berkowitz’s Fairholme Funds Inc sued the U.S. government, claiming that changes to the bailout terms set for
mortgage financiers Fannie Mae (FNMA) and Freddie Mac (FMCC) unlawfully impair shareholder value.

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