Morning report 19 Sept 19: Stocks fall then recover after US rate decision

US sharemarkets were mixed on Wednesday as US FOMC members gave conflicting signals about the future direction of interest rates. New projections showed policymakers at the median, expected rates to stay within the new range through 2020 which is considered as bad news for investors hoping for additional cuts to help counter the economic fallout from the US-China trade war. Shares of courier company FedEx fell by 12.9% after the company blamed trade tensions and a split with Amazon.com for its dismal full-year profit forecast. The Dow Jones closed up by 36 points or 0.1%, the S&P500 index was flat, but the Nasdaq fell by 8 points or 0.1%

 

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