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The Stock Exchanges in New York Started Trading on Wednesday With Small Results

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The stock exchanges in New York started trading on Wednesday with small results.

 

Investors on Wall Street are looking forward to the Federal Reserve’s interest rate decision later today, and especially to the new economic expectations, Fed Chairman Jerome Powell will release.

It is the first time since the coronavirus outbreak that the central bank has released new forecasts for the US economy.

Shortly after the opening bell, the Dow-Jones index was 0.3 percent lower at 27,196 points. The broad-based S&P 500 rose 0.1 percent to 3,210 points. Tech fair Nasdaq won 0.7 percent to 10,018 points.

The Fed’s interest rate decision will be announced at 7:00 PM (UK time), followed by an explanation by Powell.

Interest rates are expected to remain unchanged, and no new support measures will be announced. The umbrella of US central banks has already announced massive aid packages and cut interest rates, leading to a historical recovery in the US stock markets.

Investors will want to pay particular attention to Powell’s comments about the impact of the virus outbreak on the world’s largest economy. He said earlier that the pandemic could do lasting damage.

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