U.S. shares were mostly lower on Wednesday. The tech sector was weighed down by steep losses in Apple’s shares following a disappointing earnings report, ahead of the Federal Reserve’s Federal Open Market Committee, where an interest rate decision will be made. Based on last year’s historical prices, Apple’s value was around $130 to $135 almost a year ago.
The Dow Jones remained flat by mid-day, with Apple accounting for most declines and Chevron accounting for most of the gains in the index. The S&P was initially higher on gains in the energy sector while tech shares weighed in the index down. The energy sector was boosted by a rise in oil prices, with crude oil touching a 5-month high earlier in the session. The Nasdaq Composite erased all of April’s gains as it dove 1%, weighed by declines in prominent tech stocks, including Apple, Microsoft, Alphabet, Amazon.com and Facebook, which is scheduled to release its earnings reports once the session ends.
This week’s remaining economic events include today’s Japanese employment and inflation data, followed by an interest rate decision. Germany will release employment and inflation data, while the U.S. will release quarterly GDP data. On Friday more Eurozone inflation data will be released. Find out about the most important binary options news with OptionsClick, the top binary options trading broker.
Disappointing economic data dragged on shares as investors anticipate earnings and policy meeting
U.S. shares were slightly higher after the Dow Jones and Nasdaq gave up earlier gains. Investors were anticipating key earning reports from Apple after session, as well as minutes from the Federal Reserve’s FOMC meeting. Earlier gains were seen after the release of a positive earnings report from DuPont Inc., though shares ran out of steam by noon. As of this writing, the Dow Jones was up 0.1% and the S&P 500 0.2% while being weighed down by the healthcare sector. The Nasdaq composite remained flat.
Oil prices recovered some lost ground on Tuesday on a weak U.S. dollar. As of this writing, crude oil traded 2.5% higher at $43.7 a barrel. It can be remembered that markets were lower as oil prices resumed their seesaw movement a week ago. The greenback was under pressure by disappointing economic data ahead today’s Federal Reserve meeting. The ICE U.S. dollar index dropped 0.5% after the release of March’s durable goods orders, which have failed to meet expectations. Oil’s pricing in dollars makes it cheaper for holders of other currencies, attracting investment.
This week’s central economic event is the Fed’s FOMC, where interest rate decisions and economic outlooks will be released. How will shares react to the Federal Reserve’s minutes? Find out about all the most important binary options trends with OptionsClick, the top binary options trading broker.
In the meantime, investors are getting ready for this week’s Federal Open Market Committee
The energy sector led declines in major U.S. benchmarks on Monday ahead of the Federal Reserve’s monetary policy meeting. By mid-day, the S&P 500 traded around 0.5% lower as consumer staples was the only sector in positive territory. The energy sector traded 1.5% lower while the information technology sector moved into negative territory on a yearly basis so be sure to keep up with the news to make the most of your binary options trading ventures!
The Dow Jones industrial average declined over 100 points by mid-day trading. Goldman Sachs, 3M and Caterpillar led the decliners and accounted for most of the losses seen in the index. The Dow’s transport sector fell around 1%. Investors are awaiting Wednesday’s FOMC meeting, though the central bank isn’t expected to raise interest rates this week. However, the Fed’s economic outlook produced a strong effect on the market in recent meetings, putting this week’s minutes in focus.
Important upcoming economic data releases include today’s U.S. durable goods orders. This week’s most important event is the Fed’s FOMC, where interest rate decisions and economic outlooks will be released. How will shares react to the Federal Reserve’s minutes? Find out about all the most important binary options trends with OptionsClick, the top binary options trading broker.