Thursday, 4 May 2017

Wall Street slips as Fed holds on rates

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Wall Street ended slightly lower on Wednesday after the US Federal Reserve held interest rates unchanged and investors digested another heavy round of earnings reports.

The benchmark S&P 500 reduced its losses following the statement from the US central bank, which downplayed weak first-quarter economic growth and emphasized the strength of the labor market, in a sign it could tighten monetary policy as early as June. Investors are betting on a 65 percent chance of a hike in June, according to Thomson Reuters data.

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