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US stock indices fell by 0.4-0.7%

UNITED STATES (OBSERVATORY) –¬†US stock indexes on Wednesday completed trading in the red zone, as the results of the May meeting of the Federal Reserve System (FRS), investors did not see new signals about further monetary policy in the US , writes The Wall Street Journal.

As expected, the Fed kept the basic interest rate unchanged – in the range of 1.50 to 1.75%. The Central Bank noted the increase in prices in the US and said that it expects inflation to approach the target of 2% per annum in the medium term.

The number of jobs in the US increased in April by 204 thousand, according to the data of the industry organization ADP. Wall Street experts on average expected an increase of 198 thousand. The growth rate of employment has exceeded 200 thousand for five months already.

The Dow Jones Industrial Average index fell by 174.07 points (0.72%) on May 2 to 23924.98 points.
Standard & Poor’s 500 decreased by 19.13 points (0.72%) – to 2635.67 points.

Nasdaq Composite lost 29.81 points (0.42%) and amounted to 7,100.90 points.

The share price Yum! Brands Inc. Collapsed by 7.4%, although the profit of the fast-food restaurant operator surpassed market expectations. Investors are unhappy with the decline in revenues and the slow growth of comparable sales of the company.

Due to weak quarterly results, the price of Snap Inc., which belongs to the social network Snapchat, collapsed by 22%. Revenue and the daily audience were less than market expectations.

The price of Xerox securities fell 9% on news of the company’s resignation.

The market value of Apple increased by 4.4%. The largest company in the United States and the world in terms of capitalization received profit and revenue better than Wall Street expectations.

Stock quotes Mastercard Inc. rose 3.1% due to positive quarterly reports, the carrier Sourthern Co. – by 1%.