U.S. Stocks Slip in Copper Rout, Fed Boosts Dollar: Markets Wrap
- FOMC leaves rates unchanged, sees inflation near target
- Treasury yields, dollar advance as crude oil unchanged
Apple Earnings Cast Big Shadow Over Market
U.S. stocks edged lower, while the dollar rose with Treasury yields after the Federal Reserve signaled it’s looking past a recent deceleration in economic growth. Copper fell the most since 2015.
The Nasdaq 100 Index retreated with small caps, while the S&P 500 Index pared its loss in the final 30 minutes of trading as a rout in copper weighed on materials producers. The Fed’s latest decision to leave interest rates at current levels while indicating it’s not concerned about the economy lifted the greenback versus major peers. Treasury 10-year yields rose above 2.30 percent, weighing on real-estate stocks. Crude was flat after erasing losses on data showing U.S. stockpiles declined less than forecast.