AGL 8.42 Increased By ▲ 0.12 (1.45%)
ANL 10.75 Increased By ▲ 0.16 (1.51%)
AVN 78.90 Increased By ▲ 0.30 (0.38%)
BOP 5.50 Increased By ▲ 0.05 (0.92%)
CNERGY 5.47 Decreased By ▼ -0.12 (-2.15%)
EFERT 79.90 Decreased By ▼ -0.35 (-0.44%)
EPCL 69.00 Decreased By ▼ -0.60 (-0.86%)
FCCL 15.00 Decreased By ▼ -0.30 (-1.96%)
FFL 6.45 Decreased By ▼ -0.08 (-1.23%)
FLYNG 7.24 Increased By ▲ 0.06 (0.84%)
GGGL 10.87 Increased By ▲ 0.02 (0.18%)
GGL 16.85 Increased By ▲ 0.06 (0.36%)
GTECH 8.12 Decreased By ▼ -0.02 (-0.25%)
HUMNL 7.11 Increased By ▲ 0.07 (0.99%)
KEL 3.05 Increased By ▲ 0.06 (2.01%)
LOTCHEM 32.52 Increased By ▲ 1.75 (5.69%)
MLCF 28.61 Decreased By ▼ -0.37 (-1.28%)
OGDC 84.50 Increased By ▲ 1.75 (2.11%)
PAEL 16.80 Decreased By ▼ -0.17 (-1%)
PIBTL 6.00 Decreased By ▼ -0.08 (-1.32%)
PRL 18.07 Decreased By ▼ -0.03 (-0.17%)
SILK 1.15 No Change ▼ 0.00 (0%)
TELE 11.32 Increased By ▲ 0.07 (0.62%)
TPL 9.20 No Change ▼ 0.00 (0%)
TPLP 20.00 Increased By ▲ 0.12 (0.6%)
TREET 26.43 Decreased By ▼ -0.03 (-0.11%)
TRG 95.39 Increased By ▲ 0.79 (0.84%)
UNITY 20.07 Increased By ▲ 0.57 (2.92%)
WAVES 13.84 Decreased By ▼ -0.50 (-3.49%)
WTL 1.33 Increased By ▲ 0.03 (2.31%)
BR100 4,238 Increased By 51.2 (1.22%)
BR30 15,554 Increased By 80.4 (0.52%)
KSE100 42,495 Increased By 398.6 (0.95%)
KSE30 16,080 Increased By 197.2 (1.24%)

NEW YORK: The Dow and Nasdaq indexes fell on Wednesday as Amgen and Microsoft weighed, while investors focused on a Federal Reserve meeting for updates on monetary policy and waited for another batch of earnings from big technology firms.

The US central bank’s policy statement is expected to largely follow the mold established in December, when the Fed said it would not change monetary policy until there was “substantial further progress” in meeting its maximum employment and 2% inflation goals. The statement is due at 2 p.m. EDT.

The S&P 500 touched an all-time high earlier in the session, powered by shares of Google parent Alphabet Inc, which jumped 3.7% after reporting a record profit for the second consecutive quarter and announcing a $50 billion share buyback.

Market participants are now prepping for results of Apple Inc and Facebook Inc after markets close. Shares of Facebook rose 1.4%, while Apple dipped 0.2%.

At 12:08 p.m. ET the Dow Jones Industrial Average was down 117.71 points, or 0.35%, at 33,867.22, the S&P 500 was up 1.79 points, or 0.04%, at 4,188.51 and the Nasdaq Composite was down 32.39 points, or 0.23%, at 14,057.83.

Microsoft Corp met quarterly sales expectations and beat profit estimates, but its shares fell 3.3%. Biotech Amgen Inc’s 7.5% decline weighed on the Dow after it said its first-quarter sales and profit fell due to a 7% drop in its net drug prices and a hit from the COVID-19 pandemic. Boeing Co fell 3.4% after posting a wider-than-expected quarterly loss.

Comments

Comments are closed.