US dip lower on Friday, still set to post strong weekly gains

Following three consecutive days of gains, US equity markets took a pause and opened slightly lower on Friday but remained on track to post strong weekly gains on the back of Fed's decision to leave interest rates unchanged.

At the time of writing, the Dow Jones Industrial Average fell 40 points to 18,353, while the broader S&P 500 index lost 7 points to 2,170. Meanwhile, tech-heavy Nasdaq Composite index lost 17 point to 5,323.

No major economic releases were scheduled for release today and hence, bulls took a breather that might lead to a muted trading action on the final day of a busy week.

Later during the day, Philadelphia Fed President Patrick Harker, Atlanta Fed President Dennis Lockhart and Federal Reserve Bank of Cleveland President Loretta Mester are due to speak on a panel. Meanwhile, Dallas Fed President Robert Kaplan is expected to take part in the Q&A session at an energy industry forum in Texas.

In other asset classes, WTI crude oil retreated a bit as traders seemed reluctant to carry big bets ahead of the OPEC meeting this weekend. Meanwhile, gold traded modestly lower, while the greenback (as measured by the US Dollar Index) attempted a tepid recovery.

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.