USA close: Stocks mixed as investors look towards FOMC

INVESTOR INSIGHT: "The Fed's seemingly hawkish views on sustained lift-off in USA interest rates may be seen as a form of pressure for regional equities and could dampen prices today", said Jingyi Pan, market strategist at IG in Singapore.

The European Central Bank is widely expected to say next month that it will begin scaling back its asset-purchase stimulus program from January, even though a stronger euro, which dampens inflation, has complicated the outlook.

The Dow Jones Industrial Average ended the session 0.28% higher at 22,331.35 and the S&P 500 was ahead 0.15% at 2,503.87, while the Nasdaq 100 lost 0.11% to 5,981.12. The tech-heavy Nasdaq rose 0.3 percent to 6,465.75.

Interest rate futures traders are now pricing in a 72-percent chance of a December rate hike, up from roughly 60 percent before the statement, according to the CME Group 's FedWatch Tool.

S&P 500 e-minis were up 8 points, or 0.32 percent, with 48 contracts changing hands. Markets were little impacted by the speech.

"At least over the near term, probably between now and the end of October, the market is at risk", he said. The Fed chief said policy makers are aware of the risk of prices suddenly jolting higher: "We want to be careful not to allow the economy to overheat to somewhere later on to have to have tighten monetary policy rapidly and.cause a recession". Central banks are also due to hold policy meetings in Japan, Taiwan, Philippines and Indonesia.

Economic data includes a report on existing home sales that is likely to show it increased 0.3 percent in August, after falling to its lowest level in 11 months in July that signaled a slow recovery in the housing market. Gold futures for December delivery fell $13.70, or 1%, to $1,311.50 a troy ounce on the Comex division of the New York Mercantile Exchange.

See:MarketWatch's economic calendar (

Shares of Nabriva Therapeutics soared 90 percent after the company said its drug to treat community-acquired bacterial pneumonia met the main goal of a late-stage study. That was the Dow's sixth consecutive record close.

FedEx Corp.(FDX) added 2.1% after the logistics company late Tuesday reported earnings below forecasts (, saying the quarter offered "significantly operational challenges" due to a cyberattack and Hurricane Harvey. "The market reaction is interpreting the Fed as slightly hawkish but not too much", said Victor Jones, director of trading at TD Ameritrade in Chicago. The sector has risen in eight of the last nine sessions and has clocked a 6.7 percent gain in that time as investors anticipated the Fed meeting.

Nike fell more than 1 percent after a slew of price target cuts by brokerages.

Like this


22 September 2017
8 things you need to know about Nest Secure
There is also an updated Next Cam IQ outdoor security camera which is created to be integrated into the security system. The system also includes Nest Detect, which is a new sensor created to detect motion and any open and close movements.

22 September 2017
Oil prices flatten amidst OPEC concerns
The structure of oil futures prices suggests OPEC production cuts are beginning to have an impact, analysts say. US production has reached 9.51 million bpd, up from 8.78 million bpd after Hurricane Harvey hit the US Gulf.

22 September 2017
Elisabeth Moss hid this secret message to Trump in her Emmy outfit
But most people have assumed the other shoe may have borne a word to send a message to a real-world patriarchy in Hollywood and beyond.

22 September 2017
Nokia Oyj (NOK) Stock Rating Reaffirmed by UBS AG
When getting into the markets, most investors realize that riskier stocks may have an increased potential for higher returns. A certain stock may be considered to be on an uptrend if trading above a moving average and the average is sloping upward.

22 September 2017
Dollar Stalls After Fed Decision
Expectations that US rates would remain lower helped drive the greenback down 8% this year before Wednesday. The rupee has given a year-to-date return of 4.82% which is higher than most of its emerging markets peers.

22 September 2017
Capital One Financial Corp. (COF) EPS Estimated At $2.18
Capital 1 Financial Corporation (NYSE: COF ) previously released its fiscal periodic earnings information on Early Thur, Jul 20th. Guardian Life Insurance Co. of America increased its position in Capital One Financial Corporation by 0.6% in the first quarter.

22 September 2017
Police given more time to question two men over Parsons Green bombing
The teenage suspect, who was detained in Dover on Saturday, is one of two to have been arrested over the Parsons Green attack. After leaving the train he spent 20 minutes in the station toilets, before joining the District Line towards central London .

22 September 2017
Under-performing Tevez blasts standard of Chinese football
He was then an unused substitute for Tuesday's dour 0-0 draw with Shandong Luneng. The fans treat it very differently as well.

22 September 2017
7-Eleven clerk pulls out box cutter, suspected robbers flee
The clerk told police she approached a group of people who were trying to shoplift and one of the women told her she had a knife. Police said it happened around 1 the store at the intersection of South Nevada Avenue and Cimarron Street.

22 September 2017
Active Volume Stock: Ascena Retail Group Inc. (ASNA)
According to the recommendations from 4 analysts stock has mean rating of 2.5 on the shares of Century Aluminum C (NASDAQ:CENX). The total amount of shares outstanding is 180.09 million, giving the company a market capitalization of about 372.79 million.