Fed kept its rates unchanged: Market reaction to the decision was mixed [Video]
|The Federal Reserve (Fed) decision yesterday was… interesting. As expected, the Fed kept its rates unchanged, said that they are not confident to cut the interest rates but announced the upcoming QT tapering. The market reaction to the decision was mixed. Stocks and yields fell, the US dollar eased and US crude slipped below $80pb.
In equities, Amazon gained more than 2%, AMD fell more than 9% as Super Micro Computer tumbled 14% as earnings missed lofty expectations. Fears regarding a slowdown in chip demand pulled Nvidia and Micron Technology down. Happily, Qualcomm rebounded 4% in the afterhours trading on solid forecast for the current period.
Cannabis stocks, which were flying high on Tuesday following the US decision to reclassify marijuana as a less dangerous drug, fell yesterday, but outlook improved on US’ latest decision to reclassify marijuana as a less dangerous drug.
Today, Apple is due to report Q1 results today due after the bell.
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.