Dow drops after Federal Reserve highlights slowdown in U.S. growth


New York size ups reversed their modest gains Wednesday after the U.S. Federal Hesitancy announced it would leave interest rates unchanged, citing slower U.S. intumescence.

The Dow was down 222 points at the close of trading to 15,944, hurt in role by disappointing earnings reports from Apple and Boeing.

Apple intended last night that its iPhone sales would fall in the up to date quarter. Boeing’s outlook also disappointed, after it reported it would send fewer planes this year than last year.

But the out-and-out news came from the Fed, which said “economic growth slowed” since its after meeting in December.

Using new, more cautious language, the Fed said it was watching trade ins and projected “only gradual increases in the federal funds rate.” That may squalid no increase in March, analysts say.

The TSX followed New York stocks lower after the advert but bounced 46 points higher at the close to 12,377.

Toronto markets were summarizing lower than expected earnings from Rogers Communications and convenience amass operator Alimentation Couche-Tard.

Another low point came for Bombardier, which miscalculated below $1 a share as orders fail to materialize for its CSeries jet. If it remains that low for an widened period, Bombardier risks losing its listing.

Energy and financial goats moved higher, after oil prices moved upward.

West Texas Midway, the benchmark North American contract, rose 43 cents to $31.88 US a barrel, and Brent, the sheer international contract, was up 84 cents at $32.65.

Crude was buoyed by a dip in the stockpile of oil in storage at Cushing, Okla., disposed to the effect of last week’s cold weather in the U.S.  

There was also statement that Russia might be willing to enter talks with OPEC thither trying to move oil prices higher.

The Canadian dollar was up slightly at 70.94 cents US.

Leave a Reply

Your email address will not be published. Required fields are marked *