LITTLE ROCK, Ark. (Arkansas Business) -- Stocks ending higher as investors await tomorrow's economic policy announcement from the Federal Reserve.
The central bank will end its two-day meeting tomorrow, and investors are looking for any signs as to when the Fed might begin scaling back on stimulus efforts.
Meanwhile, two economic reports shining light on the current economy. The Commerce Department reporting that the pace of new home building increased in May. This comes amid more buyers coming to the market and a scarcity of houses for sale.
Investors described the report as good enough to send the market up, but not good enough to force the Fed to start thinking that the economy is fine and curb its stimulus efforts.
U.S. consumer prices rose in May
And the Labor Department reported that U.S. consumer prices rose last month, but only slightly.
U of A Athletics Dept. Projects $80.6 M budget
Here in Arkansas, the University of Arkansas releasing details of its 2013-2014 athletic department budget. The UA is projecting $80.6 million in athletic revenue for the new fiscal year, which begins in July.
That's a 6.3 percent increase from the $75.6 million projected in the current year's budget. Included in the revenue projects are $26.5 million from football ticket sales.
Arkansas also expects nearly $13 million in donations, $6.4 million in basketball ticket sales, and $5.8 million from multimedia rights and sponsorships.
UA also expects to spend $20 million for its football program, $10 million for debt service, and $6.3 million for basketball.
In, the UA has seen its athletic budget grow 58 percent since Athletic Director Jeff Long took over a $51 million operation in 2008.