Wall Street in a haphazard manner prior to the release of the Fed


Wall Street in a haphazard manner at the mid-session waiting for the press release marking the end of a meeting of the american central bank (Fed) (Photo: Drew Angerer. GETTY IMAGES NORTH AMERICA)

The New York stock Exchange evolved in a haphazard manner at the mid-session on Wednesday, waiting for the press release marking the end of a meeting of the american central bank (Fed): the Dow Jones industrial average advanced 0.18% and the Nasdaq was down 0.17%.

To 16: 05 GMT, the index featured Dow Jones Industrial Average gained 41,99 points, 23.419,23 points.

The Nasdaq, in high coloring technology, declined 11,57 points, 6.716,10 points.

The expanded index S&P 500 adjugeait 0.14 percent, or 3,63 points to 2.578,89 points.

Wednesday, before the opening, the operators present on the floor of the New York Stock Exchange observed a minute of silence in memory of the victims of the terrorist attack that took place Tuesday in New York.

At the end of the meeting of the monetary policy Committee of the Fed (FOMC), “no change on rates is expected but the statement will be subject to a thorough review since the Committee had previously said it was considering a rate increase further by the end of the year,” commented analysts at Schwab.

The statement from the Fed, expected at 18: 00 GMT, is expected to keep rates within a range of between 1.00 and 1.25%, the next increase is anticipated in December by the analysts.

The attention is also turned to the appointment of the next head of the institution, on Thursday, and the profile of the candidate favorite, Jerome Powell, considered close to Janet Yellen in the field of vision on the level of rates.

“His appointment will be a non-event for markets”, anticipated Peter Cardillo of First Standard Financial.

– Apple (NASDAQ:AAPL) weighs on the Nasdaq

The markets showed a little bit of wait-and-see Wednesday, after having reached the eve of a new record on the Nasdaq and to have ended in October, a seventh straight monthly increase for the Dow Jones and the S&P 500. The three indices have recorded their best monthly advance since February.

They were always supported Wednesday by strong macroeconomic indicators with the surprise increase (+0,3%) construction spending in September, and the figures on manufacturing activity in October, in which the progression slows down, but remains well above the 50% threshold that delineates the boundary between contraction and growth of activity (58.7%).

The pursuit of the good quarterly results of companies supplying also the trend with the publication of Estée Lauder (+8,85% 121,70 dollars).

“More than 70% of companies beat forecasts on profits, which should on average increase by 6% this quarter. Add to this the tax reform, which raises the optimism and the low inflation, you have the three main reasons that explain the increase,” said Sam Stovall, CFRA.

The results of Facebook (NASDAQ:FB) are expected after the closing, while those of Apple will be released on Thursday. “Like all technology stocks, which have so far unveiled earnings growth of 16.5% in average, their results should show up,” said Mr. Stovall. The price of apple (-1,63% to 166,29 dollars) was involved, however, the decline in the Nasdaq during the session on Wednesday.

The bond market advanced: the return of the good 10-year Treasury fell to 2,359%, compared to 2,376% Tuesday night, and that good for 30 years, 2,848%, compared to 2,872% the day before.

On the front of the values, Thomson Reuters fell heavily (-6,02% 56,69 dollars) after having published results on the rise, but a turnover in the expectations of the market.

The New York Times (-4,45% 18.25 dollars) décevait also on its turnover in the third quarter. Its subscriptions exclusively online enrolled, an increase of 154.000, to 2.49 million, an increase year on year by 59%.

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