Reuters Insider - Wall Street slips after Fed minutes released
18/10/2018 17:25
Click the following link to watch video: https://share.insider.thomsonreuters.com/link?entryId=0_50a6oi2c&referenceId=tag:reuters.com,2018:newsml_OV92GHCAZ_930&pageId=ReutersNews Source: Reuters Insider Description: Wall Street's major indexes slipped on Wednesday after the Federal Reserve meeting minutes showed broad agreement on the need to raise borrowing costs further. Fred Katayama reports. Short Link: https://reut.rs/2PakYh8 Video Transcript: A choppy session ended Wednesday with Wall Street flat after the Federal Reserve released minutes of the last meeting. The Dow finished well off the day's lows, but was dragged down by IBM and Home Depot. The minutes showed broad agreement on the need to hike borrowing costs further. Nikko Asset Management Chief Global Strategist John Vail. Well maybe they were looking for something a little bit more dovish, but it seemed pretty clear at the time that that's what they were intending—the message that they were sending out. I think the minutes might be a little bit old news though by now because of the change in the stock market. IBM shares dropped after Deep Blue's quarterly revenue fell more than expected. Netflix shares rose. The streaming video provider lifted other communication services stocks. It dashed fears of a slowdown in growth by signing up a third more new subscribers in the latest quarter than Wall Street had expected. Facebook shares rising slightly. Several public funds backed a proposal to oust CEO Mark Zuckerberg as Chairman—United Airlines raised its suggested profit outlook for 2018. It offset a surge in oil prices by raising ticket prices and controlling costs. Housing and construction stocks fell after the Commerce Department report. Home building dropped in September. Home Depot and Lowe's lost ground after Credit Suisse downgraded the home improvement retailers' shares. A decline in consumer cyclical and energy stocks dragged down the major markets in Europe