Economics
U.S. Stocks Erase Rally as Investors Analyze Fed Comments
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U.S. stocks erased an earlier rally after the Federal Reserve refrained from indicating when it will reduce the pace of stimulus and data showed the economy grew more than projected in the second quarter.
Mosaic Co. fell 6.2 percent, extending yesterday’s losses after OAO Uralkali decided to end production restrictions on potash that underpinned global prices. Visa Inc. lost 7.5 percent after a court ruling on debit-card fees. Facebook Inc. briefly rose above its $38 initial public offering price for the first time, before retreating. Comcast Corp. climbed 5.6 percent after posting earnings that topped analyst estimates.