Homestead Savings Bank issued the following announcement on Aug 22.
U.S. stocks were mixed as a slide in technology companies offset a rally in bank shares. Treasuries dropped as Federal Reserve officials cast doubt on further interest-rate cuts.
The S&P 500 Index closed little changed, while the Dow Jones Industrial Average outperformed as Boeing Co. surged. The Nasdaq-100 Index fell. Ten-year yields climbed after Philadelphia Fed President Patrick Harker told CNBC that he’s “on hold” right now for further monetary easing. His comments were in line with those of Kansas City counterpart Esther George, who said the U.S. doesn’t need lower rates. Fed Bank of Dallas President Robert Kaplan said that he wanted to be careful about cutting interest rates again “unless we have to.”
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