Equity markets are subdued as investors refocus on the Federal Reserve’s meeting, which is to take place later today. The central bank is expected to keep interest rates unchanged at 0.75% to 1%.
Weak US GDP growth for March have ignited concerns about the US economic outlook. Investors will be closely watching Friday’s non-farm-payrolls thanks to lagging growth figures. The dollar is flirting with a five-month low as a result.
- S&P 500 is down 0.12% at $2381
- DJ 30 is down 0.11% at $20835
- Russel 2000 is down 0.3% at $1392
- FTSE 100 is down 0.45% at £7171
- DAX 30 is down 0.3% at €12491
- CAC 40 is down 0.38% at €5242
- FTSE MIB down 0.19% at €20350
- Nikkei 225 is level at ¥19455
The New Zealand dollar jumped 0.2% to $0.695 against its US counterpart on Wednesday. The unemployment rate in the region fell to its lowest point in eight years.
The Japanese yen declined 0.1% against the dollar – its lowest point since mid-March.
Oil prices have picked up slightly since yesterday’s sharp sell-off. The international benchmark, Brent crude hit a five-month low yesterday. Brent oil is now trading at $50.86. Crude oil is trading at $47.98. Perhaps the crude oil inventories released later today will give the commodity a much-needed boost.
Gold is slightly down at $1253.86.
Apple’s earnings report was unfortunately underwhelming to investors. The disappointing report sent Apple 2% lower in yesterday’s after-hours trading. Watch out for Apple at the US opening bell as the tech company is due to shed some gains.