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How major US stock market indexes fared on Wednesday

15 Juin 2017

Federal Reserve: The Federal Reserve has begun its two-day monetary policy meeting and investors will await an announcement on Wednesday of a likely interest rate increase and that the USA central bank will shed some of its bonds this year.

United States retail sales recorded their biggest drop in 16 months, while consumer prices fell unexpectedly in May, raising questions about the Fed's ability to further tighten monetary policy. The Federal Reserve raised interest rates for the third time in six months.

The data also pressured the dollar index, which fell to its lowest since November 9.

"With the weak data, you start to wonder why the Fed is so bent on raising rate".

However, Cardillo said the market seemed "unfazed" by the shooting. The Fed officials agreed on a plan to reduce its $4.5 trillion balance sheet in a "gradual" and "predictable" manner.

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The Dow Jones Industrial Average bucked the trend, closing at a record high thanks to big gains in Home Depot, Inc, which rose 1.8%. The index had hit an all-time high of 21,345.56, earlier in the session.

"Armenpress" reports the value of Dow Jones up by 0.22% to 21374.56 points, S&P 500 down by 0.10% to 2437.92 points, Nasdaq down by 0.41% to 6194.89 points. The energy sector fell almost 2% as oil prices weakened.

Exxon and Chevron were the top drags on the S&P and the Dow. The stock provided the biggest boost to the S&P and the Dow. However, defensive sectors such as utilities rose.

H&R Block rose 10.6% to US$29.79 after the tax preparation service provider's fourth-quarter revenue and profit beat analysts' expectations.

In economic news, consumer prices unexpectedly fell on month in May and the annual increase in core CPI slipped to 1.7%, the smallest rise since May 2015, after advancing 1.9% in April. On the Nasdaq, 1,578 issues fell and 1,069 advanced.