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- Major US stock indexes finished trading mainly in the red
Major US stock indexes finished trading mainly in the red
Major US stock indices are mostly down. The pressure was exerted on the market by statements by the US President that US tariffs on Chinese goods may persist for a long period of time, as well as the pessimistic profit forecast for FedEx Corp., which raised concerns about global growth.
In addition, the focus of market participants were the outcome of the Fed meeting. As expected, the Fed left the range of interest rates on federal funds unchanged, between 2.25% and 2.50%, but signaled a cautious approach to further changes in monetary policy in the context of low inflation. Investors found the Fed tone softer than expected. The Fed signaled that interest rates will not rise this year, and also said it predicts one increase in rates in 2020.
Most of the components of DOW finished trading in the red (19 out of 30). The Goldman Sachs Group (GS; -3.37%) was an outsider. The growth leader was The Home Depot, Inc. (HD, + 1.08%).
Most sectors of the S & P recorded a decline. The largest decline was shown by the financial sector (-1.2%). The base materials sector grew the most (+ 0.9%).
At the time of closing:
Dow 25,745.67 -141.71 -0.55%
S & P 500 2,824.23 -8.34 -0.29%
Nasdaq 100 7,728.97 +5.02 +0.07%
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