Stocks end lower after Fed minutes – Finance

The three major US indices slipped on Wednesday, when the wage rally lost momentum and raised concerns about rates, as Wall Street was still on the edge after the sale, which last week damaged global stocks.

Closing an unstable day of trading, Dow Jones Industrial Average finished down 0.4% after having previously made it with a 300-point loss. The S & P 500 and the Nasdaq composition hesitated before abandoning the winning session and a little bit negative.

"The mood turned sour, reflecting a mixture of political noise and a few raw data," said Mark McCormick, strategist at TD Securities.

Funds found some shelter in reports of strong corporate earnings, and large banks flew over Wall Street forecasts on Tuesday. Netflix also beat and added almost 7 million followerswhile IBM missed,

With unemployment at multi-year lows and marks, wage growth could pick up, all eyes were on minutes from the last meeting of the Federal Reserve System. The central bank announced that it will continue to gradually increase interest rates, again this year and about three times in 2019.

But Ian Sheferdson, Chief Economist for Macroeconomics of the Pantheon, He believes that the protocols also reveal new fears among officials that the tightening of the labor market "represents a threat to future inflation and may require a period in which growth rates exceed neutral ones."

While the Federal Reserve views the economy as “developing in anticipation,” it continued to invoke uncertainty about trade policy. According to the minister, the growth of protectionism may lead to an increase in prices per unit of output and a decrease in economic growth.

Before the opening of the United States, government data showed that the start of housing construction in September fell more than expected. According to the Department of Commerce, last month housing construction across the country fell by 5.3%, especially in the south of the country.

Economists have stated that Hurricane Florence probably played a part in revising downward changes in August. But the widely anticipated potential downturn in the housing market. Sales of existing homes are scheduled for release on Friday.

Elsewhere Cannabis Stocks have fallen on the first day of legalization of banknotes in Canada. Tilray lost more than 7%, and Canopy growth fell by almost 5%. Ottawa is the second in the world to allow the use of recreational marijuana throughout the country.

As for the commodity, West Texas Intermediate Crude Oil Falls Below $ 70 to the lowest level almost a month after government data showed that US stocks rose by the fourth week. Caroline Bane, chief commodity economist at Capital Economics, said stocks should "soon begin to put some downward pressure on prices."

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