BUSINESS US stocks open mixed ahead of Fed announcement


US stocks open mixed ahead of Fed announcement


22:52, June 10, 2020

NEW YORK, June 10 (Xinhua) - US stocks opened mixed on Wednesday as investors were awaiting the Federal Reserve's statement on policy and its comment on the economy.


Traders work on the floor of the New York Stock Exchange (NYSE) in New York, US, March 19, 2020. (File photo: CFP)

Shortly after the opening bell, the Dow Jones Industrial Average lost 84.47 points, or 0.31 percent, to 27,187.83. The S&P 500 increased 1.32 points, or 0.04 percent, to 3,208.50. The Nasdaq Composite Index was up 57.72 points, or 0.58 percent, to 10,011.48.

Boeing shares dipped more than 4 percent in early trading, weighing on the Dow.

Tech shares continued to rise, pushing the Nasdaq to hit a fresh record. The tech-heavy index crossed the 10,000 mark for the first time in intraday trading on Tuesday, before trimming its gains to end at 9,953.75.

Of the 11 primary S&P 500 sectors, energy fell more than 3 percent shortly after the opening, leading the decliners. Technology gained 0.9 percent, the best-performing group.

Investors were awaiting the US central bank's policy decision and its update on the state of the economy due Wednesday afternoon. 

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