NEW YORK (Reuters) – All three major U.S. stock market indexes closed flat. With the US Federal Open Market Committee (FOMC) meeting coming up on the 19th-20th, the developments lacked trading material.
Many expect the FOMC to keep policy interest rates unchanged, but the future outlook for interest rates and a press conference by Federal Reserve Chairman Jerome Powell are attracting attention.
Peter Toews of Chase Investment Counsel expressed caution, saying, “Powell’s comments could cause (the market) to swing significantly in either direction.”
The Federal Reserve says it will conduct policy management based on economic indicators. Core inflation continues to fall toward the Fed’s 2% target, suggesting the U.S. economy is on solid footing.
Against this backdrop, there are growing concerns about a stalemate in Congress over the bridging budget.
Treasury Secretary Janet Yellen said on Monday that there is no sign that the U.S. economy is in decline, but that there is a risk that the economy could stall unless Congress passes legislation to keep the government running. I warned you.See more
Energy stocks (.SPNY) were bought on the back of rising oil prices. On the other hand, selling was dominant in general consumer goods (.SPLRCD). The decline in Tesla (TSLA.O) weighed on the market.
British semiconductor design giant Arm Holdings fell 4.5%. Bernstein gave the company an “underperform” investment rating.
Payment service giant PayPal Holdings (PYPL.O) fell 2%. MoffettNathanson downgraded the investment rating from “outperform” to “market perform.”
Declining issues outnumbered advancing issues on the New York Stock Exchange by a 1.22-to-1 ratio. On the Nasdaq, there were also many stocks with declines, with a ratio of 1.74 to 1.
The total trading volume on US exchanges was 9.44 billion shares. The average for the last 20 business days was 10.05 billion shares.
*For related information such as S&P sector indexes and original text, please see the “Related Contents” menu on the right side of the screen. These are provisional values based on LSEG data.The previous day’s ratio may not match
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