Arab Today, arab today dow closes at record high after fed statement
Last Updated : GMT 08:29:34
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.

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
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 13:43 2017 Sunday ,19 February

Local institutional buying lifts Oman shares higher

GMT 15:33 2017 Saturday ,18 February

Lock-up shares worth 39 bln yuan eligible for trade

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week

GMT 09:15 2017 Friday ,17 February

Asia stocks retreat after week-long Trump rally

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
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