Stocks Inch Lower as Investors Mull Fed
July 28 2016 - 4:30AM
Dow Jones News
Stock markets were little changed Thursday as investors mulled
the latest Federal Reserve statement and a raft of corporate
earnings.
The Stoxx Europe 600 inched down 0.3% in early trading,
following a muted finish on Wall Street and in Asia.
The Fed held rates steady as expected Wednesday but failed to
give a clear signal about its future plans. Fed-fund futures
suggest investors dialed back expectations slightly for a rate rise
in September following the statement, even as the central bank
upgraded its economic assessment and said risks to the outlook had
diminished.
In corporate news, shares of Royal Dutch Shell PLC fell around
3.9% in early trade after the energy giant posted a 93% drop in
quarterly profit. Credit Suisse shares rose 2.3%, after the Swiss
bank reported a surprise quarterly profit following two consecutive
quarterly losses.
Facebook Inc. shares were sharply higher in after-hours trading,
lifting U.S. stock-index futures, after the social-networking giant
beat expectations and topped $2 billion in quarterly profit.
In Asian trade, Japan's Nikkei Stock Average fell 1.1% as the
Bank of Japan began a two-day policy meeting, amid concerns a
stimulus package there could disappoint.
The dollar was down 0.5% against the yen at 104.6170.
Write to Riva Gold at riva.gold@wsj.com
(END) Dow Jones Newswires
July 28, 2016 04:15 ET (08:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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