Merck & Co Inc. said it will repurchase $5 billion worth of its common stock under an accelerated share repurchase agreement with Goldman Sachs & Co.
Shareholders at JPMorgan Chase voted to let Jamie Dimon, the chairman and CEO of the nation’s largest bank, keep both his jobs Tuesday. Dimon also received strong support to be re-elected to the bank’s board.
|Key barometers in the Treasury market late Tuesday, compared with late Monday. Price changes in the 10-year note and 30-year bond are per $100 invested: |
|Prices Today Previous Session |
|10-year note +31.3 cents _9.4 cents |
|30-year bond +78.1 cents _12.5 cents |
|Yields --- --- |
|1-month bill 0.01 0.02 |
|3-month bill 0.03 0.03 |
|6-month bill 0.08 0.08 |
|2-year note 0.24 0.24 |
|5-year note 0.82 0.84 |
|10-year note 1.93 1.96 |
|30-year bond 3.13 3.17 |
|Inflation note 0.00 0.00 |
|Federal Funds 0.10 0.11 |
|Municipal Bonds (1) 4.14 4.13 |
|1. Bond Buyer index of 40 actively traded municipal bonds. |
FED WATCH: Stock indexes wobbled in early trading Tuesday, then turned higher just before noon. That’s when news crossed that James Bullard, a Federal Reserve official, told an audience that the Fed should stick with its bond-buying effort to bolster the economy.
The stock market turned higher Tuesday as investors banked on continued policy support from the Federal Reserve. Two big retailers also topped Wall Street expectations for the most recent quarter.