Equity futures trade mixed before Fed meeting

0
106


US stocks point to a mixed opening on Wall Street before the conclusion of the two-day Federal Reserve policy meeting.

Futures on Dow indicate a decrease of 0.4%, while the Nasdaq is higher.

START FOX BUSINESS BY CLICKING HERE

Fed President Jerome Powell will be interviewed at a virtual press conference Wednesday afternoon after the last monetary policy meeting.

The Fed will also present its outlook for economic growth, inflation and unemployment.

Powell is likely to spread the word that the economy still needs extraordinary help despite recent glimpses of a possible recovery, including a government report on Friday that jobs were surprisingly added in May.

THE FED EXTENDS ITS LOAN PROGRAM ON THE MAIN STREET TO ALLOW SMALLER AND LARGER LOANS

On Wednesday in Asia, the Japanese Nikkei rose 0.2% after the government announced a sharp drop in machinery orders in April. The Hong Kong Hang Seng Index fell 0.1% and the Chinese Shanghai Composite Index fell 0.4% after the data showed lower producer prices and lower than expected inflation. in April.

In Europe, the London FTSE fell 0.6%, the German DAX fell 0.9% and the French CAC 0.7%.

In addition to the untold number of infections in some US states, experts fear that the increasing number of coronavirus cases in developing regions with precarious health systems may undermine efforts to stop the pandemic.

Teleprinter security Latest Change Change%
I: DJI MEDIUM DOW JONES 27272.3 -300.14 -1.09%
SP500 S&P 500 3207.18 -25.21 -0.78%
I: COMP NASDAQ COMPOSITE INDEX 9953.753005 +29.01 + 0.29%

During Tuesday’s session, the S&P 500 lost 25.21 points to 3,207.18. The Dow Jones Industrial Average fell 1.1%, but the Nasdaq composite rose 0.3% as stocks in communications technology and services advanced.

CLICK HERE TO LEARN MORE ABOUT FOX BUSINESS

Oil prices fell on Wednesday as the benchmark US crude oil for July delivery fell $ 1.11 to $ 37.83 a barrel in electronic trading on the New York Mercantile Exchange. It gained 75 cents at $ 38.94 a barrel on Tuesday. Brent crude oil for August delivery fell 98 cents to $ 40.18 a barrel.

The Associated Press contributed to this article.

LEAVE A REPLY

Please enter your comment!
Please enter your name here