Wall Street mixed ahead of FOMC outcome tomorrow

Ross J Burland FXStreet

Stocks were mixed on Wall Street with the S&P 500 Index and the Nasdaq Composite Index closing higher while the Dow Jones Industrial Average closed lower.

The FOMC started its meeting today that will be finalised tomorrow, so investors are not keen to position themselves ahead of tomorrow's policy decision from the Federal Reserve that could see stocks tumble on a hawkish rhetoric on the back of data coming back into line with a better Q2 and positive implications for H2.

The Dow dropped 19.31 points and by 0.1% to 18,473.75. The biggest losses there were in McDonalds Corp that closed 4.5% lower.

The S&P 500 was a mere 0.70 points higher at the close at 2,169.18. The Nasdaq climbed by 12.42 points, or 0.2%, and closed at 5,110.05 as the strongest close for the year so far.

FOMC meeting: yes, it will be hawkish; no, it won't matter

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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