The courses on Wall Street opened down on Monday, weighed down by lower oil prices and pending before the Federal Reserve’s policy meeting that takes place in the week.
On the occasion of the US already this week switched to summer time so traded US stock exchanges at 14:30 to 21:00 Swedish time, that is one hour earlier than usual.
Large companies index Dow Jones Industrial Average was at 16:11 fell by 0.1 percent to 17,202. The broader index S & amp; P 500 fell by 0.3 percent to 2,016 while the technology-heavy Nasdaq Composite fell by 0.1 percent to 4,745.
The interest rate on the ten-year bond was down 3 basis points to 1.95 percent while trettioårsräntan fell 2 basis points to 2.73 percent.
the announcement that Iran does not want to freeze the oil until it reaches 4 million barrels per day contributes on Tuesday to pressure on oil prices. In February, the country reached a production of 3.3 million barrels per day, which was the highest level since the sanctions were released at the beginning of the year.
Crude oil traded in the day down 4.1 percent to 36.92 dollars per barrel.
Sources within OPEC stated that the meeting between major oil producing countries within and outside OPEC, which has the aim to freeze production and thereby to support prices, will be held in mid-April.
Federal Reserve will on Wednesday evening announce the results of its two-day meeting. The bank is not expected to move interest rates this time, but that will always be comments about the economy and the future interest rate path to be in focus. The central bank raised key interest rate in December for the first time in nearly a decade.
Among the major banks, Morgan Stanley has revised down its 12-month target value of the S & amp; P 500 index to 2,050 from the previous 2,175. Counting from Friday’s closing level, it means an increase by a modest 1.4 percent.
“Weaker growth and rising political risk has led us to turn our positive tactical posture and reduce exposure to global equities,” writes the bank in a comment. “The likelihood of a recession has increased.”
A consortium led by Chinese Anbang Insurance has made a bid worth $ 12.8 billion at Starwood Hotels & amp; Resorts, which puts question mark Marriot 12.2-miljardersbud November. Starwood Hotels & amp; Resorts rose 7.3 percent.
Private equity firm Blackstone Group announced this weekend that they sell a portfolio of American luxury to the Chinese owner of New York’s Waldorf Astoria just months after they were acquired for four billion US dollars . Blackstone Group fell 0.3 percent.
Among recommendation changes can be noted that Goldman Sachs raised the rating on Johnson & amp; Johnson to neutral from sell. However, shares fell 0.1 percent.
Tesla Motors has received height recommendation of Robert W. Baird to outperform from neutral. Shares rose 4.2 percent.
No comments:
Post a Comment