US markets ended flat after initial positive reaction to Obama's plan to fight housing crisis as Bernanke's bank plan failed to comfort the market. Also economic data continued to be bleak and the Federal Reserve cut its forecast for the economy this year.
The fed slashed 2009 outlook, says that the economy will contract between 0.5 and 1.3%, sets inflation target of 2% & the unemployment rate is projected to rise between 8.5 and 8.8%.
The Dow Jones industrial average was up 3.03 points, or less than 0.1%, to 7,555.63. The S&P 500 index was down 0.75 points, or 0.1%, to 788.42, and the Nasdaq composite index was down 2.69 points, or 0.2%, to 1,467.97.
The fed slashed 2009 outlook, says that the economy will contract between 0.5 and 1.3%, sets inflation target of 2% & the unemployment rate is projected to rise between 8.5 and 8.8%.
The Dow Jones industrial average was up 3.03 points, or less than 0.1%, to 7,555.63. The S&P 500 index was down 0.75 points, or 0.1%, to 788.42, and the Nasdaq composite index was down 2.69 points, or 0.2%, to 1,467.97.
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