|
 Canada's main stock index opened flat on
Monday as the heavyweight energy sector declined tracking lower
crude prices, and investors awaited a pivotal U.S. Federal
Reserve meeting that could provide clues on the path of future
rate cuts.
|
|
 U.S. stocks struggled for direction on Monday after the opening bell as investors hoped to glean clues from the Federal Reserve later this week on the likelihood of rate cuts this year. The S&P 500 was up less than 0.1% to 2,888. The Dow Jones Industrial Average was down 9 points to 26,081. The Nasdaq Composite rose 0.3% to 7,821. The U.S. central bank is under pressure to issue dovish language at the upcoming policy update on Wednesday, with a minority of analysts expecting a rate cut as soon as this week. Dealing a sharp blow to economic sentiment, a plunge in the Empire State manufacturing survey in June to -8.6, from a reading of 17.8 in May, underlined the concerns around slowing growth momentum in the U.S. In company news, shares of Array BioPharma Inc. surged 59% after the biopharmaceutical company agreed to be bought by Pfizer Inc.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
|
|
U.S. stocks eked out gains at the open
on Monday, as focus shifted to a pivotal Federal Reserve meeting
that could lay the groundwork for an interest rate cut later
this year.
|
|
 U.S. stocks eked out gains at the open on Monday, as focus shifted to a pivotal Federal Reserve meeting that could lay the groundwork for an interest rate cut later this year.
|
RELATED ARTICLES | | |
|
 The Federal Reserve is likely to open the door to a possible rate cut in July, depending on U.S.-China trade talks in coming weeks, economists say.
|
RELATED ARTICLES | | | | |
|
Fed week begins with futures prices showing about one in five odds of a rate cut at the meeting. Historically, that would point toward low likelihood of a move, but it can't be ruled out. Also, the Fed's statement and press conference, along with its "dot plot" are likely to give more insight.
|
RELATED ARTICLES | | |
|
Futures remained flat for Canada's main
stock index on Monday on global cues, as investors await the
U.S. Federal Reserve's interest rate cut decision.
|
RELATED ARTICLES | | |
|
Private Label