Wall Street ends at multi-year highs on Fed

(Reuters) – U.S. stocks rose for a fourth straight session on Friday to close out the week at nearly five-year highs after the Federal Reserve took bold action to spur the economy, a move that could keep equities buoyed in the coming months.

Shares of Apple Inc, the largest U.S. company by market value, ended at an all-time peak, and Exxon Mobil, the second biggest, hit a four-year high.

Equities are in a run-up that has pushed the S&P 500 to end higher for four consecutive months. The extended advance has come mainly from actions by Europe’s and the United States’ central banks to keep interest rates low and stimulate their struggling economies.

The Fed said Thursday that it would keep up its aggressive bond-buying until unemployment falls. Read more of this post

Four US banks fail Federal Reserve stress test

BBC-  Four US financial institutions, including Citigroup, have failed stress tests designed to show they could withstand a financial shock.

The Federal Reserve said Citi, SunTrust, Ally Financial and MetLife failed to show they have enough capital to survive another serious downturn.

Citigroup is the third-largest US bank. The majority of the 19 tested passed.

All those tested are in a much stronger position than Read more of this post