Federal Reserve, Wall Street | featured news

The Federal Reserve says it may start dialing back asset purchases this summer, but Wall Street doesn't seem worried Wednesday with stocks flying Wednesday and driving the major averages to fresh nominal highs.

Stocks advanced on Tuesday, putting the S&P 500 on track for its fourth straight gain on increased hopes for central bank stimulus measures ahead of the Federal Reserve's policy meeting.

Wall Street took a drubbing Wednesday as investors worried that the Federal Reserve might not be willing to pump more money into the U.S. economy.

Bottom Line: Stocks rose in mid-morning trade on Wall Street Tuesday as investors grew more optimistic that the Federal Reserve would announce new moves to stimulate the economy.

The Federal Reserve Bank of New York has been probing major financial firms' exposure to BP Plc to ensure that if the oil giant buckles under the costs of the Gulf oil spill, it won't put Wall Street or the global financial system at risk, according to two sources familiar with the matter.

In a hard-won victory for President Obama, the Senate votes 70 to 30 to keep the head of the central bank for four more years. Senators put market stability ahead of populist anger at Wall Street.

The Senate, putting market stability ahead of populist anger at Wall Street, voted Thursday to give Federal Reserve Chairman Ben S.