国产精品99一区二区三_免费中文日韩_国产在线精品一区二区_日本成人手机在线

U.S. stocks close lower amid Fed's rate cut decision

Source: Xinhua| 2019-08-01 06:03:17|Editor: Li Xia
Video PlayerClose
U.S.-NEW YORK-STOCKS

Trading information is shown on an electronic screen at the New York Stock Exchange in New York, the United States, July 31, 2019. U.S. stocks ended lower on Wednesday. The Dow decreased 1.23 percent to 26,864.27, the S&P 500 fell 1.09 percent to 2,980.38, and the Nasdaq was down 1.19 percent to 8,175.42. (Xinhua/Wang Ying)

NEW YORK, July 31 (Xinhua) -- U.S. stocks ended lower on Wednesday, after the U.S. Federal Reserve decided to cut interest rates for the first time since more than a decade ago.

The Dow Jones Industrial Average decreased 333.75 points, or 1.23 percent, to 26,864.27. The S&P 500 fell 32.80 points, or 1.09 percent, to 2,980.38. The Nasdaq Composite Index was down 98.19 points, or 1.19 percent, to 8,175.42.

All of the 11 primary S&P 500 sectors traded lower around market close, with the consumer staples sector down nearly 2 percent, leading the losers.

Shares of Spotify declined nearly 0.2 percent, after the music streaming service reported a sharp loss in second-quarter profit, despite its better-than-expected quarterly revenue.

However, shares of Apple rose over 2 percent, after the U.S. tech giant reported second-quarter earnings that beat market expectations. Its revenue guidance for the fourth quarter also came above analysts' estimates.

The Fed decided to cut interest rates by a quarter point on Wednesday for the first time since the financial crisis in 2008.

The decision came due to "implications of global developments for the economic outlook and muted inflation pressures," according to the Fed.

The move was in line with broad expectations as traders had priced in an almost certain quarter-point rate cut ahead of the meeting.

However, the market was shocked following Fed Chair Jerome Powell's remarks that rate cut was a "mid-cycle adjustment to policy," wiping out the three indexes' gains of the day.

On the economic front, U.S. private-sector employment increased by 156,000 in July from the previous month, according to the ADP National Employment Report on Wednesday, which topped market estimates of 150,000.

The services sector and goods producers contributed the most to July's growth, which came higher than June's revised increase of 112,000.

The monthly report was co-conducted by the ADP Research Institute and Moody's Analytics, offering an overview of U.S. nonfarm private sector.

   1 2 3 4 5 6 7 8 9 10 Next   >>|

KEY WORDS:
YOU MAY LIKE
EXPLORE XINHUANET
010020070750000000000000011100001382736341
主站蜘蛛池模板: 祥云县| 绥江县| 阿鲁科尔沁旗| 张家界市| 吴桥县| 香港| 安多县| 璧山县| 灵宝市| 肇庆市| 临江市| 甘孜| 正宁县| 南昌县| 霸州市| 娄底市| 芮城县| 光山县| 新绛县| 诏安县| 呼图壁县| 延吉市| 民权县| 思茅市| 阳江市| 东方市| 安宁市| 惠水县| 永年县| 喀喇| 九龙城区| 鄂州市| 潢川县| 牡丹江市| 长春市| 南宫市| 霞浦县| 额尔古纳市| 定南县| 铁岭市| 南澳县|