Business

Wall Street Closes Higher After Fed Says Will Keep Rates Low

Published

5 years ago

March 17, 2021

FILE - In this Oct. 14, 2020 file photo, pedestrians pass the New York Stock Exchange in New York. Shares are opening mostly lower on Wall Street, Wednesday, March 17, 2021, as investors cautiously await the U.S. central bank’s latest assessment on the economy. (AP Photo/Frank Franklin II, File)

NEW YORK (AP) — Stocks closed higher Wednesday, reversing an early slide after the Federal Reserve reassured Wall Street that it expects to keep its key interest rate near zero through 2023.

The central bank’s renewed commitment to leaving rates at rock bottom lows comes even as its latest economic forecast calls for growth of 6.5% this year and for inflation to climb above 2% for the first time in years. Wall Street has been anxious about the potential for higher inflation to drive up bond yields further and has been looking for signs that the central bank shares its concerns.

Fed Chair Jerome Powell’s remarks during a news conference appeared to do the trick. Major stock indexes had been down for most of the day, led by another wave of selling in technology companies as bond yields rose, driving the closely watched 10-year Treasury yield up to 1.68% at one point, the highest level since January 2020.

After Powell spoke stocks gradually pivoted higher and bond yields fell. The turnaround nudged the S&P 500 and Dow Jones Industrial Average to all-time highs and pulled the tech-heavy Nasdaq out of the red.

“He reassured the market that the Fed is going to the extent possible be patient about even talking about raising rates,” said Willie Delwiche, investment strategist at All Star Charts.

The S&P 500 rose 11.41 points, or 0.3%, to 3,974.12, recovering from a 0.7% slide. The benchmark index has now notched an all-time high 14 times this year. The Dow gained 189.42 points, or 0.6%, to 33,015.37. The Nasdaq, which had been down 1.5%, rose 53.64 points, or 0.4%, to 13,525.20.

Banks, industrial stocks and companies that rely on consumer spending helped lift the market. Those gains outweighed a pullback in health care, utilities and other sectors.

Smaller company stocks, the market’s standout gainers so far this year, also had good day. The Russell 2000 index of smaller companies picked up 16.87 points, or 0.7%, to 2,336.39.

Treasury yields mostly fell, reversing an earlier move higher. The yield on the 10-year U.S. Treasury note, which has surged in recent weeks on inflation concerns, rose to 1.64%, the highest level since February 2020. It hit 1.62% late Tuesday.

Higher yields put downward pressure on stocks generally, in part because they can steer away dollars that had been headed for the stock market and into bonds instead. That makes investors less willing to pay as high prices for stocks.

Investors are betting big that the economic malaise will dissipate as spring arrives and more Americans get vaccinated against the coronavirus. The $1,400 stimulus checks the Biden administration began sending to individuals last weekend are also helping. But faster economic activity could also translate into some degree of inflation.

The Fed policymakers now forecast that the national unemployment rate will drop faster than they did in December: They foresee unemployment falling from its current 6.2% to 4.5% by year’s end and to 3.9%, near a healthy level, at the end of 2022.

That suggests that the central bank will be close to meeting its goals by 2023, when it expects inflation to exceed its 2% target and for unemployment to be at 3.5%. Yet it still doesn’t project a rate hike then.

At least some Fed officials appear to be closer to tightening up the central bank’s ultra-low-rate policies. Four of the 18 policymakers now expect a rate hike in 2022, up from just one in December. And seven predict a hike in 2023, up from five in December.

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Business

U.S. Marine Veteran Receives Refurbished Vehicle Through NABC Recycled Rides Program

Published

3 days ago

June 12, 2026

FNN NEWS

DAVIE, Fla. (FNN NEWS) — A U.S. Marine Corps veteran and his family received a life-changing gift on June 11 when they were presented with a fully refurbished vehicle through the National Auto Body Council’s (NABC) Recycled Rides® program.

The donation was made possible through a partnership between vehicle donor Allstate, repair partner Crash Champions, and several industry sponsors. The presentation took place at Crash Champions’ Davie, Florida, collision repair center.

Veteran Receives Reliable Transportation

The recipient, Sergio Hernandez, was nominated by the Wounded Warrior Project, one of the nation’s leading veterans service organizations dedicated to supporting post-9/11 veterans, active-duty service members and their families.

Hernandez and his wife received a refurbished 2018 Toyota RAV4 donated by Allstate and restored by Crash Champions technicians.

“This vehicle is beautiful, super clean, just near mint,” Hernandez said. “Reliability is a huge thing. This will take a burden off our shoulders not having to worry about maintenance or any of the issues we were having with prior vehicles. I’m truly grateful for it.”

From Military Service to Civilian Life

Hernandez served in the United States Marine Corps beginning in 2015, with assignments in South Korea, Japan and the Philippines. During his service, he suffered a back injury that required extensive therapy and rehabilitation.

After leaving the military, Hernandez used GI Bill benefits to earn a bachelor’s degree in business management. However, transportation challenges remained a significant obstacle for his growing family.

With a non-operational vehicle and mounting repair costs, reliable transportation had become a pressing need. The donated vehicle will help Hernandez commute to work, attend family appointments and provide safe transportation for his wife and two young children.

Industry Partners Make a Difference

Allstate has donated more than 300 vehicles through the NABC Recycled Rides® program, making it one of the program’s largest vehicle donors.

Crash Champions has also played a major role, gifting more than 250 vehicles to individuals and organizations in need through the initiative.

Additional partners supporting the donation included Enterprise, Tire Kingdom, AutoZone, J&A Auto Restore, ATE, Advanced Remarketing Services, Copart and Cars for Charity.

Business

Orlando Regional REALTOR Association Event Highlights Orange County Growth, Housing Trends and Economic Outlook

Published

2 months ago

April 19, 2026

Willie David

Credit ORRA: Maria Henson — Senior Director of Market Research & Insights, Visit Orlando

ORLANDO, Fla. (FNN) — The Orlando Regional REALTOR Association (ORRA) hosted its second annual State of Real Estate event for Orange County on April 17, bringing together industry professionals, policymakers and community leaders to examine the region’s housing market and economic outlook.

Held at ORRA’s headquarters in Orlando, the event focused on the evolving dynamics of residential and commercial real estate across Central Florida. Discussions centered on housing affordability, economic growth and long-term regional development.

Speakers and Panelists

Lawrence Yun — Chief Economist, National Association of REALTORS
Maria Henson — Senior Director of Market Research & Insights, Visit Orlando
Racquel Asa — Head of External Affairs, Central Florida Expressway Authority
Amy Mercado — Property Appraiser, Orange County
Chris Atwell — Moderator, 2026 ORRA President

Industry experts said Central Florida’s economy continues to grow, though at a more measured pace. While housing and stock market wealth remain near record highs, job growth is softening, consumer sentiment has declined and loan defaults are rising — creating a market shaped by mixed signals.

Panelists noted the housing market has shifted into a more stable phase compared to the rapid growth seen during 2020 and 2021, with more balance and sustainable conditions.

Despite short-term fluctuations, long-term fundamentals remain strong. Orange County’s tax base has grown significantly since 2023, while the broader Central Florida region has experienced a 23% population increase over the past decade, with more than 1,200 people moving to the area each week.

Infrastructure and tourism were also highlighted as key drivers of future growth. Officials pointed to major roadway investments by the Central Florida Expressway Authority and the region’s continued strength as a tourism hub, drawing more than 75 million visitors in 2024.

“We’re operating in a global economy where interest rates, supply chains and migration policies all influence what happens at the local level,” said ORRA CEO Cliff Long.

Economic Trends Show Mixed Signals
Experts emphasized that strong asset values are being offset by softer job growth and declining consumer confidence.

Housing Market Enters Stable Phase
The market has transitioned from pandemic-driven volatility to a more balanced and sustainable pace.

Growth, Infrastructure and Tourism Drive Future
Population growth, infrastructure investment and tourism continue to support long-term expansion in Central Florida.

ORRA’s Impact and Benefits on the Real Estate Industry

The Orlando Regional REALTOR Association provides critical market insights, advocacy and professional resources for REALTORS® across Central Florida. Its events foster collaboration between industry leaders, policymakers and the community, helping guide responsible growth, inform housing policy and strengthen the regional real estate market.

Business

Walmart’s Road to Open Call Returns to Orlando, Offering Small Businesses Access to National Retail Opportunities

Published

2 months ago

April 15, 2026

Willie David

Florida National News

ORLANDO, Fla. (FNN) — Walmart, in partnership with the Hispanic Chamber of Metro Orlando, will host the 2026 Walmart Road to Open Call pitch event on May 21 in Orlando, offering small businesses the opportunity to present their products directly to Walmart buyers.

The Orlando event is the only Florida stop in 2026 and is part of a nationwide initiative designed to support small business growth, expand supplier diversity and strengthen U.S. manufacturing.

OPPORTUNITY FOR SMALL BUSINESSES

The Road to Open Call serves as a pathway for entrepreneurs to connect with Walmart’s sourcing team, refine their pitches and prepare for the company’s annual Open Call event in Bentonville, Arkansas.

Applications are open through May 1 at 10 p.m. EST. A select group of applicants will be chosen to participate in the Orlando event, where each business will receive a 30-minute, one-on-one pitch meeting with a Walmart buyer, along with feedback and mentorship.

Top participants may earn a fast pass to Walmart’s annual Open Call, where they can pitch for potential placement in Walmart stores or online.

FOCUS ON U.S.-MADE PRODUCTS

Walmart’s Open Call is the company’s largest sourcing event for products made, grown or assembled in the United States. The program is open to businesses across industries, including food and beverage, beauty, safety and consumer goods.

“The Road to Open Call provides a powerful platform for small businesses to grow and scale,” said Mark Espinoza, senior director of public affairs at Walmart. “By connecting entrepreneurs directly with our sourcing teams, we’re helping bring innovative, U.S.-made products to customers while supporting American jobs and local economies.”

LOCAL IMPACT AND ECONOMIC GROWTH

Local leaders say the initiative strengthens both entrepreneurship and the regional economy.

“We are proud to join forces with Walmart for the second consecutive year to bring this opportunity to the business community,” said Pedro Turushina, president and CEO of the Hispanic Chamber of Metro Orlando. “This initiative supports entrepreneurs and helps small businesses access national retail opportunities.”

Since launching in 2014, Walmart’s Open Call has helped thousands of small and midsize businesses become suppliers, while more than 85% of Walmart shoppers report valuing U.S.-made products.