U.S. stocks rose for the week, with the Dow Jones Industrial Average reaching a record, as earnings topped forecasts and the Federal Reserve said it would further trim bond purchases as the economy gains momentum.
U.S. stocks advanced, sending the Dow Jones Industrial Average to a record, after the Federal Reserve said the economy is gaining momentum. Treasuries rose and the dollar dropped as the central bank signaled low rates would persist for a “considerable time.”
Pepco Holdings Inc., an electricity and natural gas provider in the mid-Atlantic region, was sued by a shareholder who claims the company is undervalued in a proposed $6.8 billion takeover by Exelon Corp.
Pepco Holdings Inc. and Exelon Corp. are among the electric utilities seeking authority to raise customer rates or take other steps to recoup costs of meeting U.S. demands to protect the nation’s power grid from hackers.