Wall Street struggled for direction Wednesday as traders remained unconvinced by Federal Reserve assurances that the biggest banks would be able to resist a sharp economic downturn.
U.S. stock index futures pointed to a slightly higher open on Wall Street on Wednesday as investors built on Tuesday's rally, with banking stocks in the spotlight after the Federal Reserve announced that most U.S. banks had passed its stress tests, and gave an improved economic outlook.
The “Mad Money” host makes the case for this Internet stock.
Stocks finished off their worst levels Monday but still ended in the red as renewed concerns over Greece and slowing growth in China overshadowed better-than-expected economic news in the U.S.
Stocks eased off their lows but still failed to close in positive territory Friday, as gains were limited following a robust rally in recent weeks and no major news on the economic front gave investors little reason to jump in.
Stocks closed lower Wednesday, with the Dow logging its sharpest decline this year, amid ongoing worries over Greece, following the Federal Reserve's latest meeting minutes, and as Apple slumped.