US Markets Flat After Federal Reserve Holds Rates the Same - 28th April
US Markets closed flat as investors looked to the Fed to advise on a interest rate hike.
Toronto, Canada, April 28, 2016 (Newswire.com) - Admiral Global
US Markets Flat After Federal Reserve Holds Rates the Same – 28th April
The Federal Reserve finished its April meeting yesterday and as many analysts expected, no rate changes were announced. Ms. Yellen, speaking after the meeting, once again confirmed that the Feds concerns about global growth and inflation worries as the main driver to keeping rates the same in the US.
Andrew Stern, PR Manager
The major US indexes closed flat yesterday as investors waited for news from the Fed after hours.
The Federal Reserve finished its April meeting yesterday and as many analysts expected, no rate changes were announced.
Ms. Yellen, speaking after the meeting, once again confirmed that the Feds concerns about global growth and inflation worries as the main driver to keeping rates the same in the US.
The Fed sees inflation rising to its 2% target over the medium term but despite low unemployment and strong jobs data they kept their overnight lending rate at 0.25 – 0.5%
There have been many calls on whether there would be a rate hike. CME’s Fed Watchdog said 23% of its investors polled expected a rate hike in June, up from 21% last month. September is now the traders’ month of choice for a rate increase with the possibility of a second increase coming before the end of the year in December.
GDP guidance will be released this afternoon in the US. A poll suggests that GDP will have increased 0.7% in the first quarter of 2016. Almost half the growth seen in the last quarter of 2015.
Major US Index Closes 27th April:
S&P 500 – 2,095.18 (+0.16%)
Dow Jones – 18,041.55 (+0.28%)
NASDAQ – 4,863.14 (-0.51%)
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Source: Admiral Global