About: http://data.cimple.eu/news-article/bbe5f0bac82190004d5b780edb2af67189648c01001d9a48faf6d7e0

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About: http://data.cimple.eu/news-article/bbe5f0bac82190004d5b780edb2af67189648c01001d9a48faf6d7e0 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Wall Street stocks declined Wednesday as the Federal Reserve edged a bit closer to tightening monetary policy while adopting a broadly dovish response to recent signs of inflation. Shares hit session lows shortly after the US central bank raised its inflation and growth forecast and released projections that showed a majority of Fed officials expect interest rate hikes in 2023. However, equities recovered somewhat during Fed Chair Jay Powell's press conference during which he emphasized that he views recent price hikes as temporary, and that steps to restrict monetary supply are not imminent. Jason Schenker of Prestige Economics said the overall message was "highly accommodative," but included "some hawkish changes at the margin." The Dow Jones Industrial Average finished at 34,033.67, down 0.8 percent. The broad-based S&P 500 ended down 0.5 percent at 4,223.70, while the tech-rich Nasdaq Composite Index lost 0.2 percent at 14,039.68. Large banks mostly rose, with JPMorgan Chase up 0.7 percent and Bank of America gaining 0.6 percent as long-term bond yields climbed following the Fed announcement. Among individual companies, General Motors jumped 1.6 percent as it again lifted its investment plan for electric and autonomous vehicle technology. The auto giant now expects to spend $35 billion through 2025, up 30 percent from its prior plan. Oracle slumped 5.6 percent despite reporting better-than-expected results. Analysts expressed disappointment with the software giant's forecast. jmb/cs
schema:headline	US stocks dip as Fed inches closer to policy shift
schema:mentions	S&P 500 Index JPMorgan Chase Self-driving car Interest rate Stock Dow Jones Industrial Average Jason General Motors Federal Reserve Inflation Reputation Jay Powell Oracle Corporation Monetary policy NASDAQ Composite
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-06-16 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	62 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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