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Wall Street closes stable after Fed meeting

Wall Street closes stable after Fed meeting

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The S&P 500 closed stable on Wall Street on Wednesday, as the Federal Reserve policy announcement faded the earliest momentum of Apple, Boeing (NYSE: BA ) and General Electric (NYSE ) quarterly results : GE ).

Initially, the shares reacted slightly to the Fed’s monetary policy statement, but shortly thereafter began to fall after the press conference of its president Jerome Powell.

The Fed kept the rates stable, as expected, but Powell said “uncertainties about prospects persist,” such as the outbreak of coronavirus in China.

Since the Fed cut rates for the last time in October, its third rate reduction in 2019, its officials have agreed to keep their key loan rate at one day in a range between 1.50% and 1.75% .

Apple Inc (NASDAQ: AAPL ) gained 2.09% after reporting earnings in the Christmas sales season better than expected by analysts, while preparing for more difficulties in China.

Boeing Co rose 1.72% after its cost forecast of $ 19 billion for the paralysis of its 737 MAX aircraft turned out to be lower than expected by analysts.

The Dow Jones Industrial Average increased 11.6 points, or 0.04%, to 28,734.45, while the S&P 500 lost 2.84 points, or 0.09%, to 3,273.4 units. The Nasdaq Composite , meanwhile, added 5.48 points, or 0.06%, to 9,275.16 units.

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