WASHINGTON (Reuters) - The chairman of the U.S. House Financial Services Committee is seeking changes to draft legislation for the $450 trillion privately-traded derivatives markets, with the intent of making it harder for banks to avoid trading the contracts on exchanges.
Stocks finished mixed Tuesday as techs struggled after a downgrade on Intel. Transports rose following news that that Warren Buffett is buying Burlington Northern railroad. Industrials also gained after this week's encouraging manufacturing reports.
Stocks tumbled Tuesday, led by techs after an analyst downgrade on Intel. Transports rose following news that Warren Buffett is buying Burlington Northern railroad.
With the markets in volatility mode, investors will likely be focusing on the Federal Reserve Tuesday, even though the 2-day Federal Open Market Committee meeting that begins this afternoon won't conclude until Wednesday.
Stocks struggled to stay in positive territory for any length of time Tuesday as profit-taking after Monday's blockbuster rally overshadowed a fifth-straight rise in pending-home sales.
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