Wall Street's S&P 500 and Dow Jones indexes fell on Tuesday, while the tech-heavy Nasdaq hit a record high for the third straight session, as investors eyed this week's Federal Reserve meeting for signs on how it views a restarting economy.
- Wall Street’s S&P 500 and Dow Jones indexes fell on Tuesday, while the tech-heavy Nasdaq hit a record high for the third straight session, as investors eyed this week’s Federal Reserve meeting for signs on how it views a restarting economy.
Financial, industrial and energy stocks which have surged in recent weeks on hopes of an improved economic outlook dragged on the benchmark S&P 500.The Nasdaq became the first of Wall Street’s main indexes to confirm a new bull market after hitting a low on March 23. The rally in U.S. stocks accelerated last week after strikingly upbeat May jobs data strengthened views the worst of the economic fallout from the pandemic was over.
While no major policy announcements are expected when the U.S. central bank wraps up its two-day meeting on Wednesday, investors will be keen to know its remarks on the health of the economy.
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