Wall Street feverish despite Fed announcements

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NEW YORK STOCK EXCHANGE ENDS IN DISPERSED ORDER

NEW YORK (Reuters) – The New York Stock Exchange ended in disarray on Wednesday as equity indices amplified their advance as the Fed maintained its monetary policy and raised its forecast before retroceding gains .

The Dow Jones index gained 0.13% (36.78 points) to 28,032.38. The larger S & P-500 lost 15.71 points, or 0.46%, to 3,385.49.

The Nasdaq Composite for its part fell by 139.86 points (-1.25%) to 11,050.47 points.

The US Federal Reserve left monetary policy unchanged on Wednesday and vowed to keep it near zero until inflation climbs back to a level “moderately” above its 2% target for “some time.” .

Wall Street had however amplified its rise after these announcements and the Standard & Poor’s 500 index, the main benchmark for many professional investors, gained 0.6% around 6:20 p.m. GMT while it took less than 0.2% just before the publication of the communicated.

In terms of values, technology stocks were once again gloomy, Apple ending down -2.95% to 112.13 dollars, Microsoft losing -1.79% to 205.05, Amazon losing -2.47% to 3,078.10 dollars and Facebook showing a decline of -3.27% to 263.52 dollars.

“The big tech companies have weathered the pandemic well. Now they are catching their breath,” comments Christopher Grisanti of MAI Capital Management.

Against the trend, Fedex gained 5.76% to $ 250.30 after posting quarterly profit and revenue above Wall Street expectations thanks to increased shipments during lockdown.

On the bond market, Treasuries gained 1.8 basis points to stand at 0.6969%.

The dollar ended up 0.15% against a basket of currencies and the euro stood at 1.1809 dollars (-0.30%).

* Reminder of the session in Europe: [.EUFR]

(Nicolas Delame)

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