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Wall Street opens with firmness and Trump cautiously warns the Fed

2019-07-29 02:47 pm | Resource: News | No Views : 25

Wall Street opens with firmness and Trump cautiously warns the Fed
 
Wall Street opened mostly red on the first day of the week as companies continued to release their second-quarter earnings, including Fizer and Mylan. Mylan also announced that it had reached an agreement to merge with Upjohn for the non-patented brand of Vizer in a comprehensive deal. In other news, US President Donald Trump criticized the Federal Reserve for failing to cut interest rates despite "very low inflation."

Trump to the Fed: a small cut to the interest rate is not enough

President Donald Trump said on Monday that the United States was "doing well" but the central bank's policy has cost it a "startling" wealth gap, especially for national debt. "The Fed" has risen too early, and its quantitative tightening was another big mistake, referring to interest rate increases from December 2015 until late last year and the Federal Reserve's decision to reduce its giant. Balance by running the outstanding bonds.

Trump said. "We are competing with other countries that know how to play the game against the US This is actually the reason for the formation of the EU ... For China, so far, the US has been" easy to choose. "Wrong moves: , But we will win anyway!

The FOMC meets this week and policymakers indicated they were willing to cut the benchmark target range by 25 basis points to between 2% and 2.25%. Will be the first cut since December 2008.

US Stocks Open
  • The Dow Jones Industrial Average was flat as Coca-Cola was the best performer
  • While the Nasdaq 100 fell 0.12% on the back of losses of Western Digital.
  • At the same time, the S & P 500 index fell 0.06%.

The euro fell 0.04% against the dollar to trade at 1.1122 at 15:29 CET while the British pound dropped 0.94% against the US dollar to 1.2266 at the same time, reaching its lowest level since March 2017 with concern about Britain's exit from the union European intensification.


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