Day trading
dow jones 20957 plus 8
DAX 12525 plus 19
FTSE 7234 minus 15
CAC 5301 minus 3.5
Oil 47.61 minus 0.05
Gold $1237 minus $17
marbles normal 5c Bangers 20c (no change in 40 years)
https://www.thestreet.com/quote/djia/dow-jones-industrial-average-today.html
The
Federal Reserve still has faith in the integrity of the U.S. economic recovery even as recent data showed signs of weakness.
The central bank's belief in the fundamentals lifted some of the weight on Wall Street Wednesday. Stocks closed mostly lower, though well off their lows.
The
S&P 500 was down 0.13%, and the
Nasdaq fell 0.37%. The
Dow Jones Industrial Average turned higher late afternoon, finishing up 0.03%.
In a statement following the Fed's May meeting, members of the Federal Open Market Committee noted that economic had slowed, though fundamentals remained solid. The committee viewed slowing growth in the first quarter as transitory.
"The Committee views the slowing in growth during the first quarter as likely to be transitory and continues to expect that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace," the Fed said in a statement.
Also on Wednesday, the Fed opted to leave its federal funds rate at 0.75% to 1% at its May meeting, according to a statement following the meeting's conclusion. The group maintained its forecast for gradual hikes.
No changes were made to its balance sheet policy. The committee said it would maintain its existing policy of reinvesting principal payments and expects that to continue until the rates normalization process is "well underway."
The odds of a rate hike to 1% to 1.25% at this meeting sat at a negligible 4.8% prior to the announcement, according to CME Group fed funds futures. A June rate hike looks more likely with a 67% chance. The meeting on Wednesday concluded with no press conference, often taken by investors as a sign of no change in monetary policy.
"Despite weak GDP numbers and soft March payrolls, the Fed's target of three hikes in 2017 is still in their cross hairs," Mike Loewengart, VP of investment strategy at E*TRADE, wrote in a note. "All eyes continue to be focused on the June meeting, and if the economy shows greater signs of life, no doubt the Fed hawks will be buzzing for an increase."
Apple (
AAPL) beat
estimates on its bottom-line but
fell short on the top. The world's largest publicly traded company earned $2.10 a share on $52.9 billion in revenue. Analysts predicted earnings of $2.02 a share on sales of $53.02 billion. iPhone shipments of 50.8 million also fell short of estimates of 52.27 million. Services revenue rose 18% to $7.04 billion, which was slightly below consensus of $7.06 billion.
Third-quarter revenue guidance came in slightly weaker than expected. Apple said it expects revenue for the quarter ending in June of $43.5 billion to $45.5 billion, which falls short of the $45.63 billion consensus.
Quarterly sales miss aside, Brian Sozzi calls the stock "cheap by almost all measures" over on our premium site Real Money.
what we can expect
our futures point to a slightly modest opening, currently down 4 points
have a good day
