US trading session closed with indices lower after Fed interest rates unchanged

03.05.2017 / 23:33

Rating:

Since Fed did not change the base interest rate, the indexes did not move upward but dropped, with only the DJIA index closing at the levels it opened. S&P and Nasdaq closed down.

DJIA: 8.01 points/ 0.04% - 20,957.90

S&P: - 3.04 points/ -0.13% - 2,388.13

NASDAQ: - 22.82 points/ -0.37% - 6,072.55

Banks shares jumped after the interest rate decision as it is now expected an increase to be made in June, 2017. Financial sector gained 0.60%, while utilities lost 0.49%.

Now there are higher chances for interest rates hike from 60% to 75% next month. The Federal Reserve does not discuss the balance of $4.5 trillion. The Fed's attention from now on will be on the labor market and data that will come out by the NFP on Friday.

Nasdaq index closed lower due to Apple's shares lower price after the earnings report showed lower revenue. About 75% of corporations have already shown their earnings reports.

The dollar rose with USD/JPY traded around 112,670 and EUR/USD around 1,08800 with a decline. The Japanese yen continues to weaken as well as gold that probably indicate a return risk appetite.

Trader Senan Fuchedzhiev

Varchev Traders

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US trading session closed with indices lower after Fed interest rates unchanged

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