Most large technology stocks closed lower. Apple closed down 2.14%, Microsoft fell 3.76%, Nvidia fell 1.14%, Google closed down 3.54%, Amazon fell 4.6%, Meta fell 3.59%, and Tesla fell 8.28%. According to US media: Musk is under military investigation for repeated violations of federal reporting agreements designed to protect state secrets. Broadcom fell 6.91%, Walmart fell 1.96%, and Eli Lilly fell 1.79%. PLTR fell 3.87%.
03 Daily Focus
FOMC Statement:
1. Statement Overview: The wording remained largely unchanged, with indonesia phone number list a 25 basis point rate cut approved by an 111 vote, with Hammack supporting a pause in rate cuts. Lower ONRRP by 30 basis points.
2. Interest rate outlook: The “size and timing” of further rate cuts will be considered. The median of the dot plot was raised, indicating that interest rates will be cut twice in the next two years, but some officials have serious differences.
3. Inflation outlook: The time for achieving the 2% inflation target has been postponed to 2027, and the forecast for 2026 has been raised across the board. Most officials expect risks to be tilted to the upside.
4. Economic outlook: Slightly lower unemployment rate expectations. The wording on steady economic growth remains unchanged, and the forecast for real GDP growth this year and next year has been raised, significantly increased from 2% to 2.5% this year.