NEW YORK — Wall Street is opening lower ahead of several key inflation reports this week and the Federal Reserve’s latest interest rate policy decision. The S&P 500 shed 0.4% early Tuesday. The Dow Jones Industrial Average fell 245 points, and the Nasdaq slipped 0.1%. Fifth Third Bancorp fell 1.8% after giving a weaker-than-expected forecast. The Fed announces its latest decision on interest rates on Wednesday. The central bank is widely expected to leave rates where they are.
General Motors got a small lift early after automaker announced that its board approved a $6 billion stock buyback. Its shares rose another 1% and are up more than 32% this year. When Fed officials released its last projections in March, they indicated the typical member foresaw roughly three cuts to interest rates in 2024. That projection will almost certainly fall this time around. Traders on Wall Street are largely betting on just one or two cuts to rates in 2024, according to data from CME Group.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: US stocks edge lower ahead of huge week on Wall StreetInvestors are looking ahead to the Fed's policy decision and key inflation data later in the week as they scale back rate-cut bets.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Asian shares edge lower after Wall Street sets more recordsHONG KONG (AP) — Asian markets were mostly lower in cautious trading on Wednesday after U.S. stocks hit new record highs. U.S. futures and oil prices slipped...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Nasdaq, S&P 500 turn higher ahead of huge week on Wall StreetInvestors are looking ahead to the Fed's policy decision and key inflation data later in the week as they scale back rate-cut bets.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: US futures stay put ahead of huge week on Wall StreetInvestors are looking ahead to the Fed's policy decision and key inflation data later in the week as they scale back rate-cut bets.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street edges higher ahead of services sector dataNEW YORK (AP) — U.S. stocks are ticking higher ahead of the latest data that could show how much the economy is slowing. The S&P 500 was up 0.4% in early trading Wednesday.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street slips ahead of job market dataNEW YORK (AP) — U.S. stocks drifted lower as investors await a trove of labor market data this week. The S&P 500 fell 0.2% in early trading Tuesday. The Dow Jones Industrial Average fell 148 points, and the Nasdaq slipped 0.1%.
Source: SooToday - 🏆 8. / 85 Read more »