On May 1, the US markets experienced a decline in value as investors awaited the Federal Reserve’s announcement regarding its monetary policy rate and its news conference that day. At 5,023.88, the S&P 500 had a 0.23 percent decline.
This morning’s decline follows yesterday’s 1.6 percent drop in the benchmark S&P 500. At 15,647.32, the Nasdaq Composite experienced flat to negative trading. But as businesses like Amazon posted better-than-expected earnings, the Dow Jones Industrial Average moved higher. The index was 37,880.99, up 0.17 percent.
Later today, the Federal Reserve will make an announcement regarding its interest rate decision. According to indications from the fed funds futures price data, investors generally expect interest rates to remain unchanged.
With the DAX and CAC still closed, the FTSE experienced a 0.29 percent decline to 8,120.57. The Hang Seng closed flat to positive at 17,763.03, while the Nikkei fell 0.34 percent to 38,274.05.
Amid hopes of a Middle East cease-fire, crude prices declined for an additional day. Both WTI and Brent Crude declined 1.88 percent to $80.39 and 1.80 percent to $84.78, respectively.
