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NEW YORK, March 19 (Xinhua) -- U.S. stocks closed mixed Thursday amid a strong rebound in the U.S. dollar, as investors were still digesting Wednesday's statement from the Federal Reserve.
U.S. stocks swung sharply to gains Wednesday following the statement [url= http://www.cheapmlbjerseyst...rsey/]Kirk Gibson Jersey[/url] , as investors were relieved by Fed Chair Janet Yellen's dovish outlook.
In its statement on monetary policy Wednesday, the Fed dropped its promise to remain "patient" before raising interest rates. However, "Just because we're not using the word 'patient' doesn't mean we're going to be impatient," said Yellen at a press conference following the statement's release.
Moreover [url= http://www.cheapmlbjerseyst...Jersey/]Al Kaline Jersey[/url] , the Fed said it will "be appropriate" to raise interest rates when it has seen further improvement in the labor market and is "reasonably confident" that inflation will move back to its target of 2 percent in the medium term.
Analysts said the Fed could afford to be patient in deciding when to raise interest rates as labor force participation rate was lower than expected and wage growth remained sluggish, although the unemployment rate had fallen to an almost seven-year low of 5. 5 percent in February.
The U.S. dollar bounced back sharply on Thursday after its biggest slide since 2009 following the Fed statement on Wednesday.
The dollar index, which measures the greenback against six major peers, was down 1.55 percent during the prior session. The greenback pared most of its losses on Thursday with the dollar index up 0.88 percent at 99.415 in late trading.
Apple officially began trading as a member of the Dow Thursday, replacing AT&T in the index. Its shares fell 0.76 percent to 127. 50 dollars apiece.
A fierce competition is presently going on between entrepreneurs to try their hand in the alcohol industry. Many open up high end pubs and bars to entice more and more people and increase the sale of their business. The problem arises when the situation gets out of control and they find themselves in a mess. This is where the need of having an alcohol personal licence arises.