Popular Posts Last 7 days_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts Last 30 days_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts Last year_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts All time_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Islamophobia_$type=carousel$h=350$show=/search/label/Muslim%20World

Saudi Arabia$type=two$count=2$h=250$space=1$icon=1$m=0$sn=0$rm=0$show=/search/label/Muslim%20World

Iran_$type=three$count=3$h=250$space=1$icon=1$m=0$sn=0$rm=0$show=/search/label/Muslim%20World

Palestine$type=three$author=hide$comment=hide$rm=hide$date=hide$show=/search/label/Muslim%20World

Wall Street slips from record levels as Apple, Fed view weigh

SHARE:

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S.

U.S. stocks slipped from their all-time highs on Thursday, weighed down by Apple and the hawkish stance of the Federal Reserve, which hinted at raising interest rates for a third time this year despite low inflation.

Shares of Apple fell 1.7 percent and was on track to post its biggest two-day decline since June. The stock was the biggest drag on the three major indexes.

Investors were also absorbing the Fed’s decision to start ending monetary stimulus by reducing its approximately $4.2 trillion in holdings of U.S. Treasury bonds and mortgage-backed securities - acquired in the years after the 2008 financial crisis - from October.

While the central bank left rates unchanged, it cited low unemployment, growth in business investment and an economic expansion that has been moderate but durable this year to build its case for another rate hike in 2017.

Interest rate futures are now pricing in about a 70 percent chance of a December hike, according to CME’s FedWatch tool, up from above 50 percent prior to the Fed meeting.


Fed Chair Janet Yellen said the fall in inflation this year remained a mystery, adding that the central bank was ready to change the interest rate outlook if needed.

“Today’s movement is most likely a give back as people digest the Fed statement and press conference,” said Michael Dowdall, investment strategist at BMO Global Asset Management.

“Clearly the Fed doesn’t have answers on the 2017 low inflation weakness but they’re still very sensitive to falling behind the curve so they want to stay in front of the inflation curve.”

At 10:53 a.m. ET (1453 GMT), the Dow Jones Industrial Average was down 9.04 points, or 0.04 percent, at 22,403.55, the S&P was down 4.57 points, or 0.18 percent, at 2,503.67.

The Nasdaq Composite was down 34.31 points, or 0.53 percent, at 6,421.74.

Seven of the 11 major S&P sectors were lower, with the technology index’s .SPLRCT 0.76 percent fall leading the decliners.

Nvidia pared losses to trade down 3.1 percent after GlobalFoundries, which fabricates chips for Advanced Micro Devices, said Tesla had not committed to working with the company to develop its own artificial intelligence chip for self-driving cars. Advanced Micro pared gains to trade up 0.3 percent, while Tesla was off 0.8 percent. U.S. stocks have continued to climb this year, with the S&P up about 12 percent so far, helped by strong corporate profits and optimism that U.S. President Donald Trump will cut taxes for businesses.

Valuations are stretched with the S&P trading near 17.6 times expected earnings, compared to its 10-year average of 14.3, according to Thomson Reuters Datastream.

Shares of Calgon Carbon soared 61.9 percent after Japanese chemical manufacturer Kuraray agreed to buy the carbon materials firm for $1.107 billion.

Advancing issues outnumbered decliners on the NYSE by 1,340 to 1,319. On the Nasdaq, 1,455 issues fell and 1,199 advanced.

COMMENTS

Name

Ads,5,Afghanistan,75,Africa,26,Americas,5,Animals,36,Argentina,1,Asia,235,Australia,11,Austria,5,Bahrain,2,Bangladesh,18,Barcelona,1,Belgium,3,Brunei,1,Business,1300,Canada,4,Catalan,80,China,118,Cuba,3,Czech Republic,3,DR Congo,1,Egypt,22,Ethiopia,1,Europe,237,Fitness,14,France,26,Germany,37,Headlines,11,Health,169,Hillary Clinton,199,Hong Kong,2,Hungary,1,Iceland,1,India,104,Indonesia,9,International,75,Iran,77,Iraq,77,Ireland,2,Islamophobia,19,Israel,10,Italy,3,Japan,36,Jordan,1,Kenya,7,Kosovo,1,Kuwait,3,Lebanon,2,Libya,2,Lifestyle,302,Lithuania,1,Malawi,1,Malaysia,15,Malta,1,Maxico,3,Middle East,127,Muslim World,598,Myanmar,35,Nawaz Sharif,5,Nepal,3,Netherlands,2,New Zealand,9,Niger,1,Nigeria,2,Nobel Prize,81,North Korea,53,Norway,1,Opinion,26,Pakistan,1036,Palestine,36,Philippine,16,Pics,66,Poland,3,Popular,1,Qatar,93,Rohingya,118,Russia,45,Rwanda,1,Saudi Arabia,83,Science,144,Serbia,2,Showbiz,350,Somalia,4,South Africa,1,South Korea,7,Spain,60,Sports,1311,Sudan,1,Sweden,1,Switzerland,2,Syria,112,Taiwan,2,Technology,449,Thailand,5,Today IN History,24,Top News,994,Tunisia,1,Turkey,77,U.S.,301,UAE,21,UK,51,Ukrain,2,Venezuela,4,Videos,75,Vietnam,2,World,4824,Yemen,21,Zimbabwe,2,
ltr
item
Muslim Global: Wall Street slips from record levels as Apple, Fed view weigh
Wall Street slips from record levels as Apple, Fed view weigh
U.S. stocks slipped from their all-time highs on Thursday, weighed down by Apple and the hawkish stance of the Federal Reserve, which hinted at raising interest rates for a third time this year despite low inflation.
https://2.bp.blogspot.com/-ty2a8xbUOac/WcPqbU3Rt3I/AAAAAAAAhfc/3yLZHpY_UfkDrhNIYt2lZHongQE6pmMygCLcBGAs/s640/A%2Btrader%2Bworks%2Bon%2Bthe%2Bfloor%2Bof%2Bthe%2BNew%2BYork%2BStock%2BExchange%2B%2528NYSE%2529%2Bin%2BNew%2BYork%252C%2BU.S.%252C%2BSeptember%2B8%252C%2B2017..jpg
https://2.bp.blogspot.com/-ty2a8xbUOac/WcPqbU3Rt3I/AAAAAAAAhfc/3yLZHpY_UfkDrhNIYt2lZHongQE6pmMygCLcBGAs/s72-c/A%2Btrader%2Bworks%2Bon%2Bthe%2Bfloor%2Bof%2Bthe%2BNew%2BYork%2BStock%2BExchange%2B%2528NYSE%2529%2Bin%2BNew%2BYork%252C%2BU.S.%252C%2BSeptember%2B8%252C%2B2017..jpg
Muslim Global
http://www.muslimglobal.com/2017/09/wall-street-slips-from-record-levels-as.html
http://www.muslimglobal.com/
http://www.muslimglobal.com/
http://www.muslimglobal.com/2017/09/wall-street-slips-from-record-levels-as.html
true
616431133175714168
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy