Stocks Opened Mixed ahead of Fed Meeting
- Wednesday, June 10, 2020, 9:44
- Stock Market
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U.S. stocks opened mixed on Tuesday, as investors awaited the Federal Reserve’s latest monetary policy decision. The Dow Jones Industrial Average lately fell 81.98 points, or 0.30%, to 27,190.32. The S&P 500 climbed 1.98 points, or 0.06%, to 3,209.16. The Nasdaq Composite jumped 67.63 points, or 0.68%, to 10,021.38.
Crude oil futures slipped lower early Wednesday as data showed a big increase in weekly U.S. crude supplies. West Texas Intermediate crude for July delivery was off $1.06, or 2.8%, at $37.86 a barrel. Brent oil for August delivery gave up 94 cents, or 2.3%, to reach $40.24 a barrel.
U.S. consumer prices fell for a third straight month in May and underlying inflation was weak as demand remained subdued amid a recession caused by the COVID-19 pandemic. The Labor Department said on Wednesday its consumer price index dipped 0.1% last month after plunging 0.8% in April.
Starbucks Corp on Wednesday forecast its third-quarter operating income to plunge by about $2.2 billion, hit by coronavirus-induced store closures. The world’s largest coffee chain projected a third-quarter adjusted loss of 55 cents to 70 cents per share and said it expects U.S. same-store sales to drop by up to 45%.
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