Wednesday, May 1, 2019
With clear accusations, Wall Street goes out of business. The reason for this is the decision of the US Federal Reserve. As expected, he wants to leave his monetary policy unchanged and not bow to pressure from US President Trump.
US Federal Reserve statements on inflation have thwarted hopes of a possible interest rate cut this year. US equity markets then became the loss zone. The US dollar has risen sharply, with bond yields on the rise. At the beginning of the business, the S & P 500 reached a record sales of around 2954 points. Among other things, a surprisingly positive quarterly report from the iPhone maker Apple has ensured a good mood.
The Dow Jones Industrial ended the deal just above its daily low low of minus 0.61 percent at 26,430.14 points. The S & P 500 lost 0.75 percent to 2,923.73 points. The Nasdaq 100 lost 0.38 percent to 7,751.85 points.
"The Fed once again emphasized its patience regarding further adjustments in interest rates," said Thomas Altmann, a portfolio manager at QC Partners in Frankfurt. This causes monetary policy to be planned. However, the Fed will avoid giving in to the constant criticism of US President Donald Trump at any rapid cut in interest rates. That demanded the same thing on Tuesday.
The mixed economic data published at the beginning of the trading session had little impact. April employment in the private sector surprised with the fastest growth since July 2018. These numbers are indicative of the US government's monthly labor market that is expected to be delivered on Friday. The mood in the US industry, however, has been surprisingly sunk to its lowest level since October 2016. However, the overall index remains above the 50-point limit, indicating a rising industrial output.