Stocks Down A little After Fed Keeps Rate Unchanged

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U.S. market indexes were primarily reduced on Wednesday. For the day the Dow Jones Industrial Average closed at 18,472.17 for a loss of 1.58 points or 0.01%. The Standard & & Poor’s 500 was also down, closing at 2,166.58 for a loss of 2.60 factors or 0.12%. Technology stocks gained for the day. The Nasdaq Composite was higher at 5,139.81 for a gain of 29.76 factors or 0.58%. The VIX Volatility Index was lower at 12.79 for a loss of 0.26 points or 1.99%. In the Dow Jones Industrial Standard, stocks leading losses for the day included the following: Nike (NKE) -1.03%. Microsoft (MSFT) -1.00%. In innovation, stocks leading gains for the day included the following: Illumina Inc. (ILMN) 8.09%. Biomarin Pharmaceutical Inc. (BMRN) 6.60%. Apple Inc. (AAPL) 6.53%. On the economic calendar, mortgage applications reported by the Home loan Bankers Association were lower by 11.2% for the week. The Pending House Sales Index enhanced 0.2% from the previous month. The monthAAAs record was improved from the previous monthAAAs 3.7% decrease; nonetheless it was still listed below agreement of 1.3%. Other records on Wednesday included Durables and also the EIA Oil Standing Report. The Consumer goods Report showed a reduction in new orders of durables of 4%. Consumer goods were below consensus, as well as the monthAAAs record was the most affordable in nearly two years. WednesdayAAAs EIA Petroleum Standing Record revealed oil inventories raising by 1.7 million. The major emphasis of the dayAAAs trading was on the Federal Open Market CommitteeAAAs conference report Wednesday mid-day. The FOMC kept rates the same at 0.25% to 0.50%. The FOMCAAAs report suggested that the financial expectation was improving which might cause a rate raise this year. In a CNBC report Wednesday, Expense Gross provided his insight on the FedAAAs decision to leave rates unchanged and how it is influencing the market overall. Disclosure: I do not possess any stocks included in this write-up. Start aAA complimentary seven-day trial AA of Costs Subscription to GuruFocus. Read More:

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