US stocks end lower on concerns over tightening Fed policy: HumSub.TV
US stocks end lower on concerns over tightening Fed policy: HumSub.TV: Wall Street stocks finished lower Wednesday following a midday reversal after Federal Reserve meeting minutes suggested the US central bank could move more quickly than expected to reduce its balance sheet.
US stocks had been solidly higher prior to the 1800 GMT release of the minutes following data that showed strong US private-sector hiring in March, according to payrolls firm ADP.
But the market reversed course after the Fed minutes. Earlier, stocks in Tokyo, Shanghai and Hong Kong all rose, while markets in Europe were mixed.
The Fed minutes of the March meeting showed policy makers wanted to move away, or slow, their post-crisis policy of reinvesting in Treasury bills and mortgage-backed securities, for which the Fed has built up a $4.5 trillion balance sheet.
“It looked as though we were going to have a good day because of the ADP numbers and the optimism about job growth, but then commentaries about the Federal Reserve thinking about cutting back its balance sheet has begun to give people pause,” said Nicholas Colas, chief market strategist at Convergex.
Barclays said in a note the discussion of the balance sheet came sooner than expected and appeared to be designed to give the market clear expectations.
“The desire to signal sooner than later is likely a function of the committee’s wish to avoid adverse market reactions,” the Barclays note said. “Communicating early — and often — could have been seen as the best remedy to avoid a 2013 ‘taper tantrum’ reaction from markets.”
Among major US indices, the Nasdaq fell the most at 0.6 percent after earlier hitting an all-time intraday high earlier in the day.
The dollar was essentially flat against the euro and down against the pound and the yen. But some analysts think the greenback may be poised for gains.
“Higher rates coupled with a smaller balance sheet, currently at $4.5 trillion, depict an outlook of diminishing headwinds on the dollar that could keep its longer run prospects biased higher,” said Joe Manimbo, senior market analyst at Western Union Business Solutions.
Markets are awaiting a number of key events this week, including a two-day summit between US President Donald Trump and his Chinese counterpart Xi Jinping that begins Thursday, and the release Friday of official US jobs figures for March.
About HumSub TV
Introduction
HumSub TV is Pakistan’s leading forwarding-thinking, edutainment channel, aimed at promoting and upholding peace, interfaith harmony and social responsibility within Pakistan through informative and insightful programmes and documentaries; analytical interviews on issues pertaining to social, economic, legal and environmental set-up; dedicated shows to canvass and thereby promote the culture and heritage of Pakistan and in-depth coverage of national and international news.
HumSub TV is the first channel and thus a pioneer within its own right that mainly focuses on emphasising the “Rights” as well as the “Obligations” of the citizens in light of the Constitution of Pakistan, numerous International declarations signed by the Government and various laws that have been promulgated over the years but are not in the knowledge of the common citizen.
HumSub TV also aims to enter into bilateral agreements with other countries to promote not only their culture, heritage and tourism, but also their educational and medical facilities.
Following the successful launch of HumSub TV’s head office in Blue Area, Islamabad; the bureau office has been set up in Lahore.
Vision
To project positive image building of Pakistan and inculcate nationalism, as per the vision of the founder of the nation, Quaid-e-Azam Mohammad Ali Jinnah.
Mission
HumSub TV is resolute about the promotion of a pluralistic, inclusive and egalitarian society in Pakistan where all citizens are allowed to contribute to promote interfaith harmony, peace and collective wisdom in the social, political and economic development of Pakistan and to encourage critical and lateral thinking in the society. HumSub TV strives to make a positive contribution to this end.
HumSub TV’s Theme
HumSub TV, Pakistan’s first EDUTAINMENT Channel, has been set up for not only those audience residing in Pakistan or overseas but the international community on the whole. The vision of the channel is to project positive image building of Pakistan and inculcate nationalism as per the vision of the founder of the nation.
HumSub TV strives to make a positive contribution to this end by promoting pluralism, inclusiveness and egality in Pakistan and give voice to the suppressed. It endeavors to act as a positive catalyst for social change and Pakistani nationalism. It envisions providing a platform for airing critical and lateral thinking and collective wisdom by inviting positive minded intellectuals and opinion forming individuals for the promotion of interfaith harmony and peace in the social, political and economic development of Pakistan.
Whereas the channel airs upbeat edutainment programmes, it, nonetheless, has the primary objective of countering negative anti-Pakistan regional and international propaganda as well as advancing fundamental rights as encapsulated in the Constitution of Pakistan.
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