S and P hits record high ahead of Fed decision
2019-05-01 02:37 pm | Resource: | No Views : 173
US equity markets opened in the Green Zone on Wednesday ahead of the Federal Reserve rate decision. The central bank is widely expected to keep interest rates despite pressure from President Donald Trump to cut borrowing costs.
Apple shares posted their highest level since November last year after the company's earnings, which also exceeded expectations. Technology giant shares rose 5.5%.
At the same time, shares were boosted by a 275,000-fold rise in private sector payrolls in April, well above expectations.
Construction spending in the US fell by 0.9% in March
Construction spending in the United States was $ 1.28 billion, a seasonally adjusted annual rate in February, down 0.9 percent from February's revised figure, the US Census Bureau said in a report on Wednesday.
Private construction lost 0.7% in the third month of 2019 to $ 961.5 billion, with residential construction rising by 0.7%. Non-residential construction spending was $ 460.6 billion at the same time, down 0.5% from the previous month. Meanwhile, overall construction spending in March was 1.3% lower than in February, at $ 320.7 billion. Highways and educational construction fell on a monthly basis, 1.9% and 1.5%, respectively.
US Manufacturing PMI stands at 52.6 in April
The manufacturing sector in the United States showed an increase in April with the latest PMI at 52.6, up from March's 52.4, according to the latest IHS Markit on Wednesday. April's figure is the second lowest since June 2017. US manufacturing companies reported a moderate improvement in operating conditions in April, according to the report. At the same time, expansions in production and new orders rose from their March lows, while new business grew at the fastest pace in the previous three months.
, Chief Economist at IHS Markit, Chris Williamson, commented on the report "Despite the April PMI rise"
"The survey remains consistent with the behavior that is an obstacle to the economy at the beginning of the second quarter, although with the deflation rate, historical comparisons indicate that the survey production scale needs to rise above 53.5 to indicate the growth of the plant's production, That the economy appears to be poised for a slowdown after a stronger-than-expected start this year. " .
US Stocks Open
We offer you the analysis of the NASDAQ 100 index on Wednesday , April 17, 2019 with the most important forecasts for the NASDAQ 100 index in the US market. Time frame Used - four hours The NASDAQ 100 is moving in a bullish direction in the near term. The Nasdaq 100 is still facing resistance and selling pressure around 7670 levels, forming a negative candlestick pattern as the indices…
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