Global markets update: US stocks dip as investors brace for Fed interest rate decision
US stocks dipped on Tuesday as investors are bracing for Federal Reserve’s monetary policy decision, to be announced on Wednesday.
It is widely anticipated that the US central bank will leave key interest rates unchanged.
The S&P 500 lost 9.84 points, or 0.22%, at 4,443.69 points. The Nasdaq Composite fell 32.05 points, or 0.23%, at 13,677.80. The Dow Jones Industrial Average dropped 106.46 points, or 0.31%, at 34,517.84.
Shares of Walt Disney slid 3.6% after announcing that it would nearly double its capital expenditure for its parks business over the next 10 years.
Auto parts retailer AutoZone slipped 1.9% despite reporting stronger profit for the latest quarter.
The yield on the 10-year treasury rose at 4.36% from 4.30% late Monday. The 2-year treasury yield gained at 5.11% from 5.05%.
Currencies
The US dollar rose at 147.86 Japanese yen from 147.75. It fell at $1.0677 from $1.0679 against the euro.
Europe
European shares were little changed on Tuesday.
The pan-European STOXX 600 index held steady at 456.52 points.
Britain’s FTSE 100 edged up less than 0.1% at 7,660.20. Germany’s DAX fell 0.4% at 15,664.48. France’s CAC 40 added less than 0.1% at 7,282.12.
A report showed that euro zone’s consumer inflation in August was slightly lower than initially estimated, but it remained above the European Central Bank’s target.
Energy sector index rose 1% as crude prices jumped more than 1%.
Real estate stocks gained 1%.
Technology shares fell 0.6%.
Retailers dipped 1.6%.
Asia
In Asia, the stock markets moved in different directions on Tuesday as oil prices rise.
Hong Kong’s Hang Seng Index rose 0.4% at 17,997.17. China’s Shanghai Composite ended flat at 3,124.96.
Japan’s Nikkei 225 edged down 0.9% at 33,242.59.
Australia’s S&P/ASX 200 index fell 0.5% at 7,196.60. New Zealand’s benchmark S&P/NZX 50 index lost 0.5% at 11,344.52.
Energy prices
The US crude oil benchmark for October delivery fell 28 cents at $91.20 a barrel on Tuesday. Brent crude for November delivery lost 9 cents at $94.34 a barrel.
Natural gas for October delivery added 12 cents at $2.85 per 1,000 cubic feet.
Bullion
Gold for December delivery rose 30 cents at $1,953.70 an ounce. Silver for December delivery fell 4 cents at $23.46 an ounce.
Download The Mint News App to get Daily Market Updates.
Updated: 20 Sep 2023, 02:04 AM IST
