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Global Stocks Pull Back After Fed Rate Rise
16 June 2017, 06:29 | Frank Carlson
Wall St set to open flat as Fed rate decision looms
USA stocks edged down at the close after the USA central bank raised interest rates for the second time this year.
U.S. retail sales declined by 0.3% in May compared with the previous month, amid falling petrol prices and lower demand for other goods.
The Standard & Poor's 500 index declined 5.46 points, or 0.2 percent, to 2,432.46.
NASDAQ measures a number of indices reflecting the reaction of USA's high tech markets and business environments on the country's political and economic developments which have an impact on high tech markets.
"It's a Fed day and the markets will likely not blink an eye as the FOMC raises rates by 25 basis points", said Peter Cardillo, chief market economist at First Standard Financial in NY.
"I think some Fed members are going to be skeptical about raising rates for the third time later this year, but I don't think they will step up and say they shouldn't be doing it today".
The Fed clearly outlined a plan to reduce its US$4.2-trillion (RM17.89-trillion) portfolio of Treasury bonds and mortgage-backed securities, most of which were purchased in the wake of the 2007-2009 financial crisis and recession.
The Dow Jones Industrial Average began the session down 87 points, or 0.4%, at 21,285. The Nasdaq Composite was down 65 points, or 1.1%, to 6,129. The stocks provided the biggest boost to the S&P and the Dow.
The Dow is up 56.50 points, or 0.3 percent. The stock provided the biggest boost to the S&P and the Dow.
Facebook, Mircosoft and Alphabet, which had been hit hard by a selloff in the tech sector earlier this week, rose for the second straight day.
H&R Block rose 7.9 per cent after the tax preparation service's quarterly revenue and profit beat analysts' expectations. On the Nasdaq, 1,578 issues fell and 1,069 advanced.
Roman Polanski rape victim pleads with judge to close 1977 case
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Theresa May's lead over Labour falls ahead of vote
The PM said taxpayers should not have to subsidise the social care of elderly people who have a "very significant value" property. Both leaders took a pummelling from voters over a swathe of controversial policies, but neither seemed to lose their calm.
Manchester bomber's brother released by police
Grande arrived back in the United Kingdom on Friday morning ahead of the One Love Manchester concert on Sunday. Grande returned to Britain on Friday ahead of the One Love Manchester concert on to benefit victims.
Hizb claims responsibility of Tral grenade attack
More than 200 companies of security forces are additionally being deployed for the security of the yatris in Jammu and Kashmir . This year the annual yatra will take off on June 29 and culminate on the Raksha Bandan Day, which falls on August 7.
Dennis Rodman is reportedly travelling back to North Korea
The 2014 trip also saw the sportsman lead a team of retired American players in a basketball game to celebrate Kim's birthday. Rodman's expected visit to Pyongyang would be the first under Trump, a man with whom he has a personal relationship.
Trump to push Obamacare repeal in lunch with senators
Republican Senate leaders may strike an initial deal on health care legislation to dismantle Obamacare in the coming days. That's not even close to the most daunting number in the poll for Senate Republicans , however.
Nintendo Announces Metroid Prime 4
Nintendo's E3 2017 Spotlight featured quite a few surprises and more in-depth looks on games announced earlier this year. They shared no details about it- only the name of the game and the fact that it is now in development for the Switch.