Get the edge with up-to-the-minute forex market news and insights.
US stocks ended lower after the Federal Reserve left interest rates unchanged but signaled the potential for rate increases later this year. The S&P 500 fell 1.2%, the Nasdaq 100 declined 1%, and the Dow retreated 507 points from its record high.
The Fed’s June Summary of Economic Projections showed that half of FOMC participants expect at least one rate hike in 2024, as core inflation measures continue to indicate building price pressures and labor market data remain solid, despite economic disruptions linked to the war in Iran. Chairman Warsh did not submit a dot in the projections, underscoring his intention to overhaul the Fed’s monetary policy framework. In the background, Iran and the United States remained on course to finalize their agreement.
The “Magnificent Seven” stocks led the decline amid a selloff in Treasuries: Meta fell 4.2%, Microsoft lost 3.6%, Alphabet dropped 2.4%, and Amazon sank 3.1%. By contrast, semiconductor stocks extended their gains, with Micron up 2.2%, Marvell rising 3.9%, and Intel advancing 3.5%.
Smooth out market noise with the Heiken Ashi Expert Advisor for MT4 and MT5. Reliable trend-following automation. Details here.
The material has been provided by - RobotFX.Org
Stay informed and trade smarter with RobotFX products. Discover more at robotfx.org.
Download NOW!
No comments:
Post a Comment