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Stocks Post Back-to-Back Losses After Powell Cools Rate-Cut Hopes


Friday, 3 May 2019 03:27 WIB

DOW JONESS & P 500SahamASNasdaq Composite


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U.S. stocks ended lower on Thursday, marking a second straight loss for the S&P and Dow, as equity investors hopeful of further policy easing remain disappointed from the fallout of the Federal Reserve's Wednesday meeting.

The S&P 500 was down 0.2% to end near 2,918. The Dow Jones Industrial Average slipped 122 points, or 0.4%, to end around 26,308. The Nasdaq Composite fell 0.2% to finish around 8,037. The tech-heavy Nasdaq logged its third straight loss. Stock-market benchmarks were in retreat after Fed Chairman Jerome Powell said in the post-meeting news conference that the weak inflation data throughout 2019 was due to transitory factors, suggesting a rate-cut was not necessary. In corporate news, shares of Qualcomm rose 0.9% after the chip maker's earnings beat estimates.

Source : Marketwatch


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