Market Update: Dow Jones Ends In Red.Federal Reserve Decides To Cut Rates

  • May 02, 2019 AEST
  • Team Kalkine
Market Update: Dow Jones Ends In Red.Federal Reserve Decides To Cut Rates

As the market players are aware, the US equity markets are influenced by global macro-economic factors and also by the decision of the US Federal Reserve with respect to the interest rates. The US Federal Reserve ended the meeting and, as was broadly anticipated by the global market participants, it kept the interest rates unchanged. Additionally, the market players were expecting that the Federal Reserve might also provide some hints about the rate cut. However, now, there are expectations that the Federal Reserve would not be cutting the rates. Tracking the meeting of the US Federal Reserve is very important for the market players as it gives a broad overview of the health of the broader economy and the markets are very sensitive to the macro-economic variables. Apart from these news, the US markets are also being affected by the earnings report of the companies.

Yesterday (i.e. May 1, 2019), Dow Jones Industrial Average ended the session in red as the index got closed at 26,430.14 which implies a fall of 162.77 points or 0.61% on an intraday basis. On the other hand, S&P 500 Index got closed at 2,923.73 which reflects a decline of 22.1 points or 0.75%.

Understanding Factors Which Might Influence Oil Prices?

The oil prices are very sensitive to the macro-economic variables and a rise in global worries can affect the movement of oil prices to a large extent. The news about geopolitical concerns as well as the movement in stock markets are some of the key factors which have the potential to affect the oil prices. If the worries about the global economic slowdown increases, it could largely influence the movement in oil prices.

Australian Markets Ended in Red: S&P/ASX200 Closes 0.6%

The Australian markets ended the session on May 2, 2019 in red as S&P/ASX200 got closed at 6,338.4 which implies a fall of 37.5 points or 0.6% on an intraday basis. The equity markets in Australia are sensitive to movements in the global markets and the increased tensions for global economic slowdown can significantly weigh over Australian equities. Coming to the movement of stocks, Pilbara Minerals Limited (ASX: PLS) and Nearmap Ltd (ASX: NEA) closed the session in green as the prices of these stocks increased by 9.091% and 5.571%, respectively on an intraday basis.

However, on the same day, Pendal Group Limited (ASX: PDL) and Ausdrill Limited (ASX: ASL) ended the session in red as the prices of these stocks fell by 12.987% and 8.358%, respectively.

Coming to some of the important news, Bravura Solutions Limited (ASX: BVS) came forward and made an announcement about the equity raising in order to invest in the growth opportunities. To read the entire news about this, please click here. Also, Woolworths Group Limited (ASX: WOW) made an announcement about the quarterly results. In order to read the entire news about this regard, please click here. Aurelia Metals Limited (ASX: AMI) made an announcement about leadership transition. To read the news, please click here.

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