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22-Sep2018

US markets end mostly in red terrain on Friday

The US markets ended the lackluster day of trade mostly in red terrain on Friday. Despite the choppy trading on the day, the Dow climbed to another new record closing high. Next week's Federal Reserve meeting also kept some traders on the sidelines amid a quiet day on the U.S. economic front. The Fed is scheduled to announce it latest monetary policy decision next Wednesday and is widely expected to raise interest rates by another quarter point. The accompanying statement is likely to attract considerable attention along with Fed Chairman Jerome Powell's press conference as traders attempt to gauge the outlook for further rate hikes. Most of the major sectors ended the day showing only modest moves, contributing to the lackluster close by the broader markets.

The S&P 500 slipped 1.08 points or 0.04 percent to 2929.67 and Nasdaq was down by 41.28 points or 0.51 percent to 7986.96, while Dow Jones Industrial Average surged 86.52 points or 0.32 percent to 26,743.50.


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