MarketWatch for Wednesday, June 18, 2014

By CBS News

Published 06/18 2014 06:04AM

Updated 06/18 2014 06:05AM

If you're keeping on top of the markets today, Wednesday, June 18, 2014...

The Nikkei is up 140 points today in Tokyo.
The Dow added 27 points Tuesday.
And the Nasdaq  was up 16.

Federal Reserve chair Janet Yellen holds a news conference this afternoon to talk about the state of the economy.
The Fed board wraps up its two day policy meeting later today.
Economists predict the Fed will keep a key short term interest rate near zero and will not begin raising it for another year.

The head of General Motors is heading back to Capitol Hill today after another massive recall.
CEO Mary Barra will answer more questions about the defective ignition switches that have lead to millions of cars being recalled.
The switches can turn off while driving, disabling several systems including the airbag.
At least 13 deaths are linked the problem.
Barra is expected to tell lawmakers GM is developing a compensation fund for victims and should begin processing claims in August.

Rumors are swirling that Amazon will unveil a new smartphone at an event in Seattle today.
There are reports the phone could be one of the most advanced on the market.
Devices are nothing new for the online shopping company- Amazon already sells an e-reader, tablet and a video streaming game console.

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