Wall Street down slightly as Fed meeting begins with Investing.com

Investing.com – Wall Street has recorded a lower decline than Tuesday, favoring a rise in expected results, and figures are banking on the hope of a Federal Reserve rate cut American, whose regular political meeting takes place later.

The decline of 74 points or 0.3% at 9:54 am (13:54 GMT), while the S & P 500 lost 2 points or 0.1% and the decline of 3 points or 0.1%.

The Fed closes its meeting on Wednesday and is expected to cut rates by 25 basis points, though a growing minority of investors think the central bank will keep its rates steady in the face of rising oil prices, the rise in inflation and the possible rapprochement between the United States. and China on trade.

"This is only typical of trading on the eve of a Fed meeting," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.

"We have not seen any panic as a result of what happened this weekend, I think (the Fed) will keep a quarter point reduction even after the first half of the year. Saudi attack. "

Glass and optical components maker Corning (NYSE 🙂 lost 8% after cutting TV and cable sales forecasts, while Shopify (NYSE 🙂 fell 2.7% after announcing an offer secondary.

SeaWorld Entertainment (NYSE 🙂 fell 4.3% as CEO Gustavo Antrocha resigned after just seven months while Kraft Heinz (NASDAQ 🙂 fell 3.9% after 3G Capital Partners sold 25 , 2 million shares of the company.

Elsewhere, the index, which measures the greenback versus a basket of six major currencies, declined 0.1% to 98,100 and slipped 0.1% to $ 1,509.25. Troy ounce. fell 4.3% after Saudi Arabia reported that oil production would return to normal levels faster than expected.

The news immediately put an end to US oil shale inventories, which rose sharply on Monday following attacks on Saudi Arabia. Continental Resources (NYSE 🙂 fell 9.3%, while Apache (NYSE 🙂 lost 8.5% and Devon Energy (NYSE 🙂 fell 4.5%.

The news immediately put an end to US oil shale inventories, which rose sharply on Monday following attacks on Saudi Arabia. Continental Resources (NYSE 🙂 fell 9.3%, while Apache (NYSE 🙂 lost 8.5% and Devon Energy (NYSE 🙂 fell 4.5%.

-Reuters contributed to this report