Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets closed lower on Friday

21-Apr2018

US markets closed lower on Friday

The US markets closed lower on Friday, as weakness in technology and consumer staples shares offset the latest batch of corporate earnings, which largely continued to beat expectations. The selling pressure intensified as the yield on the 10-year Treasury note hit a more-than-four-year high. The main benchmarks still posted modest weekly gains, however. San Francisco Fed President John Williams said that continued gradual rate increases are the right forecast for the Federal Reserve for the next couple years amid stronger US and global economic growth, fiscal stimulus, a strong labor market, better wage growth and stable inflation. Williams added that he is not very concerned about the flat yield curve that some investors worry is an early signal of a coming economic slowdown. The yield curve will likely steepen as the Fed trims its balance sheet and as the federal government issues more debt to fund fiscal stimulus.

Meanwhile, Chicago Federal Reserve Bank President Charles Evans said the narrow gap between long-term and short-term borrowing costs, sometimes seen as a warning of a slowdown ahead, is not a matter of particular concern to him. Evans added that removing monetary policy accommodation is a natural response to fiscal stimulus and the strength of the international economy, though it may also be the yield curve will be flatter in the future than it has been historically. Separately, Federal Reserve Governor Lael Brainard said the US economy appears capable of handling further interest-rate increases in the near future. My anticipation is that the outlook is for continued, solid growth. The outlook looks consistent to me for continued gradual increases in the federal funds rate.

The Dow Jones Industrial Average lost 201.95 points or 0.82 percent to 24,462.94, the Nasdaq dropped 91.93 points or 1.27 percent to 7,146.13, and the S&P 500 was down by 22.99 points or 0.85 percent to 2,670.14. 


Related News

View all news

Asian markets trade mostly in green in early deals

Asian markets are trading mostly in the green in early deals on Wednesday, with sentiments boosted by Wall Street's rise and a record intraday high for the S&P 500 index on Tuesday, but fragile......

Asian markets trade mostly in green in early deals

Asian markets are trading mostly in the green in early deals on Wednesday, with sentiments boosted by Wall Street's rise and a record intraday high for the S&P 500 index on Tuesday, but fragile......

US markets close higher on Tuesday

The US markets ended higher on Tuesday, registering a fourth straight gain on the back of optimism over US-China trade talks, even though President Donald Trump said he does not expect much progress from......

Top News

View all news

Uday Jewellery commences manufacturing activities at Hyderabad unit

Uday Jewellery Industries has commenced the manufacturing activities in premises situated at Hyderabad taken on lease for enhancement of its manufacturing capabilities for manufacture of specialty jewellery......

Strides Shasun's arm receives acceptance from USFDA for two key ANDAs

Strides Shasun's step-down wholly owned subsidiary, Strides Pharma Global, Singapore has received Abbreviated New Drug Application (ANDA) “acceptable for filing” correspondence from the United States Food......

IDBI Bank sells 3.90% stake in NSDL

IDBI Bank has sold 15,60,000 equity shares constituting 3.90% of the paid up capital of National Securities Depository (NSDL) on August 21, 2018.IDBI Bank is the youngest, new generation public sector......