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Wall Street faces Fed's announcement before Investing.com




Investing.com – Wall Street opened lower on Wednesday before the Federal Reserve's political decision and the publication of its latest economic forecasts.

The Federal Open Market Committee (FOMC) is expected to keep interest rates unchanged when it announces the results of two sessions at 14:00 ET (18:00 GMT). The biggest focus will be any change in the central bank's monetary policy stance, in particular its "point-graph" of interest expectations and new growth forecasts

"This is Fed's day and investors will examine the communique with two key factors ̵

1; the length of patience and the overall outlook for the economy, "said Peter Kardillo, chief market economist at Spartan Capital Securities in New York, referring to Jerome Powell's assurance that the Federal Reserve will wait and see before deciding whether to raise nterest rate after increasing

"We believe that the Fed will surprise the markets, but will add another stipulation trade deal to reliance on data and patience."

Lost 132 points or 0.5% from 9:46 AM ET (13:46 GMT), while lost 9 points or 0.3% and tech-heavy slipped by 9 points or 0.1%. General Mills (NYSE 🙂 was among the biggest gains after the morning bell, rising by 3.5% after gaining 1% profit in organs c growth of sales and updating the forecast for revenue. The Google Alphabet parent (NASDAQ 🙂 rose 0.1 percent after the news reported that the European Union was hitting the company with an antitrust fine of $ 1.7 billion to block competitive ads.

In addition, FedEx (NYSE 🙂 dropped 6.3% after its revenue forecast, while Microsoft (NASDAQ 🙂 dropped 0.6% and AT & T (NYSE 🙂 dropped 0.8%. UnitedHealth (NYSE 🙂 lost 1.3% after the Walgreens Boots Alliance (NASDAQ 🙂 dropped 1% and Caterpillar (NYSE 🙂 dropped 1.2%.

Raw materials rose 0.1 percent to $ 1,307.15 per troy ounce, down from 0.3 percent to $ 59.09 a barrel. The index, which measures green money against a basket of six major currencies, rose 0.1 percent to 95,907.

-Reuters contributed to this report.

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