Wall Street remains divided

federal reserve 150x91 Wall Street remains dividedThursday the New York stock exchanges showed a mixed picture. The Dow Jones and the S&P500 showed a decrease from the beginning, while the Nasdaq after a flat opening posted a modest profit. The losses were mainly attributable to the energy sector.
More than a half hour before the trading day closure the Dow fell 0.5 percent at 17,979 points and was the S&P500 rose 0.4 percent at 2091 points. The technology-dominated Nasdaq was 0.3 percent ahead to 4997 points. Wednesday the indicators still showed gains after the Federal Reserve indicated that they are in no hurry with the first rate hike since late 2008.
” Given the reaction after the Fed’s decision, it seems that investors prefer a long-term low interest rate than favorable news about the economy, ” said a trader. Low interest rates and the hundreds of billions that the Fed pumped into the economy in recent years, led to an enormous increase in the stock markets.

The shares of banks like Citigroup, Morgan Stanley and Bank of America decreased 2.2 percent.

Apple rose 0.5 percent.

The oil giants ExxonMobil and Chevron lost to 1.9 percent under pressure from a strong decline in oil prices. A barrel of US oil was 1.9 percent lower at $ 43.82. The price of Brent oil fell 2.6 percent to $ 54.45 per barrel.

Nike, which comes with its quarterly results after the slotbel, rose 0.7 percent despite a strike at a Chinese company that makes some shoe models for the group.

Facebook gained 2.5 percent, the highest price ever for the company. Earlier this week Facebook introduced the ability to transfer money to friends via the chat function of the social networking site.

Shares of eBay, which owns PayPal payment service, were 0.8 percent lower.