Market News

Stock Market

image
5th of April 2017, 8:32:03 PM

Dow suffers major reversal as U.S stocks close negative

U.S. stocks closed lower on Wednesday, after the Federal Reserve released the minutes from its March meeting, and signalled it would start to shrink its $4.5 trillion balance sheet later this year.Prior to the release of the Federal Reserve minutes, the Nasdaq hit an intraday record high while the Dow rose nearly 200 points to a session high of 20,887, on the back of bullish private sector job growth.ADP and Moody's Analytics said U.S. private employers added 263,000 jobs for the month. That was well above economists’ expectations of 187,000.Positive sentiment quickly turned negative, after the minutes of the Federal Reserve’s March meeting indicated that the U.S. central bank was poised to start unwinding its $4.5 trillion balance sheet late this year.The minutes also revealed mixed consensus regarding the impact of Trump’s fiscal stimulus package on growth, as some Federal Reserve officials, either didn’t factor in fiscal stimulus into growth projections or expect it to impact economic growth in 2018.Meanwhile, on the political front, House Speaker Paul Ryan said Wednesday, tax reform will take longer to accomplish than repealing and replacing Obama would.In corporate news, Amazon (NASDAQ:AMZN) shares hit a record high, after the e-commerce giant secured the rights to stream 10 “Thursday Night Football” games in the coming season.Elsewhere, investors maintained focus on the upcoming two-day meeting on Thursday between U.S. President Donald Trump and Chinese President Xi Jinping.The Dow Jones Industrial Average closed 0.20% lower at 20,648. The S&P 500 lost 0.31% and the Nasdaq Composite closed 0.58% lower at 5864.48.The top S&P 500 gainers DXC Technology Co (NYSE:DXC) up 3.4%, and Under Armour Inc C (NYSE:UA) up 3%, while Salesforce.com Inc (NYSE:CRM) added 2.9%.Chesapeake Energy Corporation (NYSE:CHK) down 3.3%, Bed Bath & Beyond Inc (NASDAQ:BBBY) down 3% and Murphy Oil Corporation (NYSE:MUR) down 2.9%, were among the worst S&P 500 performers of the session.


Go Back
To top
VIP Status Tournament

VIP Status
tournament

Are you a VIP Status Account holder? Register for the VIP Status Tournament for a chance to win your share of the $5000 Cash PRIZE POOL!

MT4 Tournament

MT4
tournament

Secure your place in our MT4 FreeRoll Forex Tournament and have the chance to win a BIG part of the $10000 PRIZE POOL!

Sirix Tournament

SIRIX
tournament

Take part in the SIRIX FreeRoll Forex Tournament to show-off your trading skills and win a portion of the $10000 PRIZE POOL!

Summer Tournament

Summer
tournament

Be rewarded with a share of the $10000 PRIZE POOL as well as a SPECIAL prize in our Summer FreeRoll Forex Tournament!

Christmas Tournament

Christmas
tournament

Want to WIN BIG? Participate in our Christmas FreeRoll Forex Tournament to win a portion of the $10000 Cash PRIZE POOL as well as 3 Mega Special Prizes!

Corresponded bank

Correspondent/Intermediary banks are used by domestic banks in order to service transactions originating in foreign countries, and act as a domestic bank's agent abroad. This is done because the domestic bank may have limited access to foreign financial markets.

Reliable Forex
Brokers

Having acted as Trusted Forex Broker for US traders since 2012, ForexBrokerInc partners only with the most reliable Forex Brokers.

Latest Bonuses & Promotions

We understand the needs of Forex Traders hence we are organizing the best Forex Bonuses, Contests and Other Promotions for ForexBrokerInc Traders.

Latest Market
News

Stay tuned and visit us regularly to get the most relevant to Forex Traders financial news.

Expert Forex Related
Customer Service

We offer an outstanding 24/5 Support for all ForexBrokerInc Traders who trade with Brokers recommended by us.

VIP Welcome
Bonus

Our VIP clients are eligible to receive the great 100% Welcome Bonus. ForexBrokerInc also offers several other valuable promotions and bonuses.

Forex
Education

Forex Trader rookie? We have the perfect in house learning materials and educational online classes to have you up and trading in no time.

Your Opinion
Counts

Tell us your opinion about our services or trading environments at any of the Forex Brokers that we cooperate with. We will work with you to resolve any issues.

Low
Spreads

Our clients enjoy spreads as low as 0.3 Pips (typical 0.8 Pips) - due to the number of liquid providers we work with - which provides a significant advantage to traders.

Best Trading
Conditions

ForexBrokerInc has a strict “no re-quotes, no rejection” policy, no First In First Out rule, making it one of the fairest brokers in the market.

Trade Anytime
Anywhere

Traders at ForexBrokerInc are spoilt for choice! They can choose to perform trades on various platforms including, MT4, MT4 Mobile or Tablet, Sirix Station, Sirix Webtrader, Sirix Mobile or Sirix Tablet.

Education

Get to know everything about forex and become an expert in the industry by reading through ForexBrokerInc’s great Educational Materials.