Thursday, 12 December 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Wall Street Dips as FedEx Issues Profit Warning; All Eyes On Fed
Wednesday, 18 September 2019 23:31 WIB | MARKET UPDATE |Saham ASWallstreet

U.S. stocks came under pressure on Wednesday after a profit warning by FedEx, while investors waited for a decision on interest rates and clues on the future of U.S. monetary policy from the Federal Reserve.

Shares of the package delivery company tumbled 14% and were on course for their sharpest one-day percentage drop since the financial crisis after FedEx blamed U.S.-China trade tensions and a split with Amazon.com Inc for its dismal full-year profit forecast.

The stock was the biggest drag on the S&P 500 and drove a 1.9% drop in shares of rival United Parcel Service Inc.

The Dow Jones Transport Average lost 1.78%, while the broader industrial sector was off 0.7%. The sector was the biggest decliner among eight of the 11 major S&P sectors in the red.

Investors are now waiting for the Fed™s policy statement, due at 2:00 p.m. ET (18:00 GMT), followed by Chair Jerome Powell™s address a half hour later.

The central bank is expected to lower interest rates by a quarter percentage point for the second time in three months, but a deep divide among policymakers has led traders to abandon all bets on a third reduction this year.

At 11:25 a.m. ET, the Dow Jones Industrial Average was down 60.42 points, or 0.22%, at 27,050.38, the S&P 500 was down 8.17 points, or 0.27%, at 2,997.53. The Nasdaq Composite was down 26.96 points, or 0.33%, at 8,159.06.

Source : Reuters

RELATED NEWS
Hong Kong: Stocks Start Thursday's Session with Gains...
Thursday, 12 December 2019 09:05 WIB

Hong Kong stocks came out of the gates with healthy gains on Thursday morning after the Federal Reserve indicated it will not change interest rates throughout next year, pointing to strength in the US...

Tokyo Stocks Open Higher as US Fed Keeps Rates Unchanged...
Thursday, 12 December 2019 07:30 WIB

Tokyo stocks opened higher on Thursday after the US Federal Reserve kept interest rates unchanged as expected, with expectations that the low rate be maintained for a while. The benchmark Nikkei 225 ...

Hong Kong Stocks End Firmer On Possible Tariff Delay (Review)...
Thursday, 12 December 2019 04:22 WIB

Hong Kong stocks closed higher on Wednesday amid speculation that Washington may hold back from slapping new tariffs on Chinese exports that are scheduled to kick in this weekend. At the close of tra...

Stocks finish modestly higher after Fed signals interest-rate pause...
Thursday, 12 December 2019 04:19 WIB

U.S. stocks came off session lows to clinch modest gains on Wednesday after the Federal Reserve indicated it would keep interest rates at current levels through the whole of next year, concluding its ...

European stocks close higher as investors await Fed decision and US-China trade news...
Thursday, 12 December 2019 00:12 WIB

European stocks traded cautiously Wednesday as investors await the U.S. Federal Reserve™s interest rate decision and monitor developments ahead of the weekend™s U.S.-China trade tariff deadline. ...

LATEST NEWS
Gold Prices Rise as Fed Decides to Hold on Rates, Signals No 2020 Rate Hike

Gold prices traded higher on Thursday in Asia after the U.S. Federal Reserve held its benchmark interest rate steady and signalled it expects that hold to last through 2020. U.S. Gold Futures rose 0.3% to $1,478.95 per ounce by 11:49 PM ET (03:49...

Turkey Threatens US With Retaliation if Sanctions Are Imposed

Ankara is threatening retaliation against Washington if hit by sanctions. The warning comes as the U.S. Senate prepares to vote on measures against Turkey over its procuring of Russian defense systems. "U.S. lawmakers must understand they will...

Gold Holds Overnight Gains after Fed Keeps Rates Steady

Gold prices on Thursday hovered near a one-week high hit in the previous session, as the dollar nursed its steepest losses in weeks after the U.S. Federal Reserve stood pat on interest rates and signaled moderate economic growth for next...

POPULAR NEWS
Gold prices slip a bit ahead of Fed meeting this week
Tuesday, 10 December 2019 03:13 WIB

Gold futures settled at a slight loss on Monday, finding little reason to move in either direction ahead of a mid-week policy update from the...

Gold prices end higher for first time in 3 sessions
Wednesday, 11 December 2019 01:56 WIB

Gold rose on Tuesday, with prices finding support after posting two consecutive sessions of losses. Traders eyed the potential for a U.S.-China...

Gold prices settle higher, head lower after Fed decision
Thursday, 12 December 2019 02:22 WIB

Gold futures settled higher on Wednesday, then inched lower in electronic trading after the Federal Reserve held a key U.S. interest rate steady at...

Gold Steadies With Fed and Tariffs in Focus This Week
Monday, 9 December 2019 18:01 WIB

Gold steadied after a drop on Friday as traders turned their focus to upcoming central bank policy meetings. Spot gold edged 0.2% higher to...