U.S. stocks extended their rally on Wednesday after the Federal Reserve said it would be patient in lifting borrowing costs further this year, reassuring investors worried about a slowing economy.
U.S. short-term interest-rate futures erased earlier losses and swung higher on Wednesday after the Federal Reserve said it will be “patient” on future interest rate hikes.
Following is the full text of the statement released by the Federal Reserve’s Federal Open Market Committee on Wednesday following a two-day meeting:
The Federal Reserve held interest rates steady on Wednesday but said it would be patient in lifting borrowing costs further this year as it pointed to rising uncertainty about the U.S. economic outlook.
The European Union is considering proposals that would effectively amount to a de-facto ban on Huawei Technologies Co. equipment for next-generation mobile networks, four senior EU officials said, adding to mounting international pressure on the world’s largest maker of telecom gear.
McDonald’s Corp warned higher labor costs, expenses for remodeling stores and a stronger dollar would weigh on its earnings in 2019, after a strong performance outside the United States powered better-than-expected fourth quarter results.
Oil prices rose about $1 a barrel on Wednesday, boosted by U.S. government data that showed signs of tightening supply, as investors remained concerned about supply disruptions following U.S. sanctions on Venezuela’s oil industry.
U.S. stocks jumped on Wednesday, as Apple led a rally in technology shares and Boeing boosted sentiment with an upbeat forecast ahead of the Federal Reserve’s monetary policy decision.
Boeing Co said on Wednesday it would make a final launch decision in 2020 on its proposed new mid-sized jetliner, depending on the results of a round of commercial pre-marketing which it may begin this year.
Even if LVMH is right that Chinese demand is as strong as ever for items like its $3,150 Louis Vuitton mini-backpacks, there are still plenty of danger signs for luxury stocks this year, from slowing U.S. growth to a drop in Swiss watch exports.
U.S. stocks jumped on Wednesday, as Apple led a rally in technology shares and Boeing boosted sentiment with an upbeat forecast ahead of the Federal Reserve’s update on monetary policy.
J.P. Morgan on Wednesday raised its estimate on the amount of excess reserves that the U.S. Federal Reserve would leave in the U.S. banking system to $1 trillion, double what it had previously projected.
Boeing Co raised its profit and cash flow expectations for 2019 on Wednesday, sending shares up more than six percent amid a boom in air travel and speedier 737 production.
Oil prices rose nearly 3 percent on Wednesday, boosted by U.S. government data that showed signs of tightening supply, as investors remained concerned about supply disruptions following U.S. sanctions on Venezuela’s oil industry.
McDonald’s Corp expects earnings per share this year to be pressured by higher labor and restaurant remodeling costs and the impact of a stronger dollar, the fast-food chain said on Wednesday.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
