Arab Today, arab today dow closes at record high after fed statement
Last Updated : GMT 05:49:56
Arab Today, arab today
Arab Today, arab today

Dow closes at record high after Fed statement

Arab Today, arab today

Arab Today, arab today Dow closes at record high after Fed statement

New York - XINHUA

U.S. stocks edged higher Wednesday to end April mixed, with the Dow Jones Industrial Average setting an all-time closing high, as investors were reassured by the policy statement from the Federal Reserve's two- day meeting. The Dow Jones Industrial Average rose 45.47 points, or 0.27 percent, to 16,580.84, eclipsing its previous record closing high of 16,576.66 points set on Dec. 31, 2013. The S&P 500 added 5.62 points, or 0.30 percent, to 1,883.95. The Nasdaq Composite Index increased 11.01 points, or 0.27 percent, to 4,114.56. Following the release of the statement in the afternoon, the market regained steam a little bit after a seesaw trading session earlier, sending the underperforming Nasdaq into positive territory. In line with market expectations, the U.S. central bank announced a further cut in its monthly bond buying program by 10 billion U.S. dollars to 45 billion dollars, referring to growth in U.S. economic activity which has picked up recently after having slowed sharply during the winter partly due to adverse weather conditions. The statement helped the market shrug off pessimistic sentiment from the release of the worse-than-expected report about U.S. gross domestic product (GDP) for the first quarter before the opening bell. The real GDP increased at an annual rate of 0.1 percent in the first quarter, the slowest pace since the fourth quarter of 2012, according to the "advance" estimate by the Commerce Department. The deceleration in real GDP growth resulted from slumping exports and private investment, which weighed on solid growth of personal consumption. Also lifting market confidence was robust jobs report by private payroll processor ADP which said that U.S. private sectors added 220,000 jobs in April, the strongest gain in five months. On corporate news, micro-blogging site Twitter Inc. and e- commerce platform eBay Inc. released quarterly earnings above market consensus late Tuesday. However, shares of both firms slumped, with the former slipping 8.56 percent to 38.97 dollars apiece and the latter tumbling 4.97 percent to 51.83 dollars apiece, as the earnings results failed to alleviate investor concerns over the valuation of high-flying tech stocks which had taken a hit under big selling pressure recently. For the month, the blue-chip Dow and the broader S&P 500 advanced 0.7 percent and 0.6 percent, respectively, while the tech- rich Nasdaq shed 2.0 percent. The CBOE Volatility Index, widely considered the best gauge of fear in the market, dropped 2.19 percent to end at 13.41 Wednesday. In other markets, oil prices dropped Wednesday as a government report showed that U.S. crude supplies climbed to a record high. Light, sweet crude for June delivery moved down 1.54 dollars to settle at 99.74 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery lost 91 cents to close at 108.07 dollars a barrel. Gold futures on the COMEX division of the New York Mercantile Exchange logged a three-day losing streak Wednesday, with the most active gold contract for June delivery going down 0.4 dollar to settle at 1,295.9 dollars per ounce. The U.S. dollar retreated against major currencies Wednesday as the U.S. economy grew at a slower pace in the first quarter. In late New York trading, the euro rose to 1.3872 dollars from 1.3810 dollars of the previous session, and the British pound increased to 1.6887 dollars from 1.6831 dollars.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dow closes at record high after fed statement Arab Today, arab today dow closes at record high after fed statement

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dow closes at record high after fed statement Arab Today, arab today dow closes at record high after fed statement

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday