THE NEW YORK STOCK EXCHANGE FINISHES IN DISPERSED ORDER
Chuck Mikolajczak
NEW YORK (Archyde.com) – The New York Stock Exchange ended in mixed order on Tuesday following a seesaw session ahead of the long-awaited statement from the United States Federal Reserve (Fed) following its policy meeting monetary policy, with investors waiting for clues on the rigor of its measures in the face of inflation.
The Dow Jones index fell 0.50%, or 151.91 points, to 30,364.83 points.
The broader S&P-500 fell 14.15 points, or 0.38%, to 3,735.48 points.
The Nasdaq Composite rose by 19.12 points (0.18%) to 10,828.35 points.
The S&P-500 ended in the red for a fifth consecutive session, a series not seen since early January, confirming that it is in the “bear market”.
Analysts are expecting the US central bank to announce on Wednesday that it will raise interest rates by 50 basis points.
Some fear, however, that the Fed decides on a hike of 75 basis points, in the wake of the surge stronger than expected in consumer prices in the United States in May, according to data published Friday.
Traders now estimate a greater than 90% chance of the U.S. central bank raising rates by 75 basis points, up from 3.9% a week earlier, according to CME’s FedWatch Tool.
Producer prices in the United States remained high in May due to the rise in oil prices, although their year-on-year increase was in line with expectations.
On the stock side, FedEx jumped 14.41% following raising its quarterly dividend by more than 50%.
Oracle rose 10.41% following the release of better-than-expected quarterly results, driven by demand for its cloud computing products.
(French version Jean Terzian)
