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US stocks trade mixed ahead of Fed decision

IANS  |  New York 

US stocks traded mixed as investors shifted their focus from midterm elections to the central bank's monetary policies.

The on Thursday was up 78.45 points, or 0.30 per cent, at 26,258.75. The declined 0.23 points, or 0.01 per cent, to 2,813.66, reported.

The Index lost 18.33 points, or 0.24 per cent, to 7,552.42.

The Federal Reserve is expected to release a statement after its two-day meeting which concluded on Thursday.

The central is expected to keep rates unchanged, but investors will look for clues about future moves on

The Fed has already raised interest rates three times this year and the market largely expects another hike before the year end.

Concerns about the pace of hikes led to market volatility last month.

The major stock indices had posted sharp gains following the US midterm elections. All three major indices jumped more than 2 per cent.

Investors were bullish following the election results as they believed that gridlock in would help the market.

They expected US Donald Trump's pro-business policies to continue and to provide a larger check on power with the Democrats taking control of the

--IANS

pgh/

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 09 2018. 00:28 IST
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