U.S. stocks ended with slight losses on Wednesday, as investors digested an interest-rate hike and the latest commentary from the Federal Reserve.
Based on preliminary figures, the Dow Jones Industrial Average fell 45 points, or 0.2%, to 24,682. The S&P 500 lost 5 points to 2,712, a decline of 0.2%. The Nasdaq Composite Index slipped 19 points, or 0.3%, to 7,345.
Trading was volatile after the Fed’s statement and a subsequent press conference by Chairman Jerome Powell, with major indexes fluctuating between positive and break-even territory.
The U.S. central bank raised interest rates for the sixth time since the end of 2015, as had been widely expected, and it stuck to its prior forecast of three rate hikes in 2018. Some investors had expected a more aggressive pace, with four hikes this year. However, the outlook for 2019 did move up; the Fed expects three rate hikes in 2019, rather than two.
A standout of the day was the Russell 2000 which rose 0.8%, easily outperforming the other major indexes. The index of small-capitalization shares was seen as supported by its heavier weighting toward financial stocks, which benefit from environments with higher rates. The Financial Select Sector SPDR rose 0.6%.
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Sumber : bpfnews.com