TELETRADER News
5/11, 10:00 PM (Source: TeleTrader)
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US falls at close amid earnings, Fed input

Major stock indices in the United States traded with losses at Wednesday's close, as investors anticipated the release of Walt Disney's and Beyond Meat's quarterly reports. Furthermore, Apple was overtaken by Saudi Arabia's oil giant Saudi Aramco as the world's most valuable company.

On the economic front, Federal Reserve Bank of Atlanta President and CEO Raphael Bostic stated that the Fed will support moving interest rates up in case inflation keeps persisting, adding that if the gaps between supply and demand narrow, the current price pressures will considerably ease.

The Dow Jones Industrial Average was down 1.02% at the close, as Apple decreased 5.18%, while the Nasdaq 100 fell by 3.06% at the same time with its worst performer, Lucid Group, declining 13.10%. The S&P 500 concurrently dropped 1.65%, with DISH Network Corp tumbling 19.72%. The euro lost 0.12% compared to the dollar, going for 1.05151 at 15:57 am ET.

Baha Breaking News (BBN) / SP