US stocks are almost flat as watches catch up with the Fed’s announcement

Stock prices continue to be sluggish in the daytime trading on Wednesday as the Federal Reserve Board’s latest monetary policy announcement is imminent. Unstable trading occurs after ending a previous session in areas where all major averages are negative.

Currently, the major averages have changed little. The Nasdaq was up 10.32 points or 0.1 percent at 14,083.18, the Dow was down 19.03 points or 0.1 percent at 34,280.30, and the S & P 500 was down 1.93 points or 0.1 percent at 4,244.66.

Trade activity could remain restrained until the Fed’s latest monetary policy announcement, scheduled for 2:00 pm Eastern Standard Time.

The Federal Reserve Board is widely expected to leave monetary policy unchanged, but traders will pay close attention to the accompanying statement changes.

Many analysts expect the Fed to start thinking about tapering, so comments on the central bank’s asset purchase program may be focused on.

In addition to monetary policy announcements, the Fed also Economy, Inflation and interest rates.

Traders may pay attention to the latest interest rate forecasts, as previous forecasts by the Federal Reserve Board have shown that interest rates will remain at near zero levels until 2023.

Prior to the Federal Reserve Board’s announcement, the Department of Commerce released a report this morning showing that housing starts recovered in May.

According to another report from the Ministry of Labor, import prices in May rose more than expected.

Most of the major sectors continue to be modest in trading between Japan and China, contributing to the poor performance of a wide range of people. market..

Steel and bank stocks were well below their worst levels of the day, but continued to see significant weaknesses, while airline stocks showed a significant recovery over the course of the session.

In overseas trading, the stock market in the Asia-Pacific region fell sharply on Wednesday. Japan’s Nikkei 225 Index fell 0.5% and China’s Shanghai Composite Index fell 1.1%, but South Korea’s Kospi hit a record high against the downtrend.

Meanwhile, major European markets performed differently on the day. Germany’s DAX index fell 0.1%, while France’s CAC 40 index and the UK’s FTSE 100 index both rose 0.2%.

In the bond market, government bonds are slightly higher prior to the Fed’s announcement. As a result, the yield on benchmark 10-year bonds, which move in the opposite direction of the price, drops 1.4 basis points to 1.485%.

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US stocks are almost flat as watches catch up with the Fed’s announcement

Source link US stocks are almost flat as watches catch up with the Fed’s announcement

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