During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
American stocks stand still
On Tuesday, a three-day leap in American shares stalled because a dismal estimate from drugstore chain Walgreens Boots affected the pharma sector, while economic data did little to soothe surge worries.
The Dow Jones Industrial Average was suppressed by a 12.2% dive in Walgreens Boots Alliance Inc right after the company reduced its 2019 profit surge estimate and posted a quarterly gain, which missed experts’ forecasts.
Moreover, the S&P consumer staples index dived by 0.7%, leading dives among 9 of the 11 key S&P sectors, which tumbled. CVS Health Corp decreased by 3%, while stocks of several drug wholesalers took a hit as well.
Data disclosed fresh orders for major American capital goods decreased in February, while shipments stood still.
Eventually, core capital goods orders decreased by 0.1%.
The data showed up on the heels of a poll disclosing a sudden rebound in China's manufacturing activity as well as better-than-anticipated American numbers that push the S&P 500 to six-month peaks on Monday.
ET, the Dow headed south by 0.41% being worth 26,151.50, while the S&P 500 decreased by 0.12% hitting 2,863.72.
Furthermore, the Nasdaq Composite rallied by 0.06% ending up with 7,833.80, backed by a 2.8% leap in Facebook Inc.
Notwithstanding coming under pressure, the S&P 500 is 2.4% away from a record closing maximum in late September, restrained by trade uncertainties, the Fed’s plans to conclude monetary policy tightening, the UK’s chaotic departure from the European bloc as well as fears about corporate profit surge.
Dow Inc managed to ascend by 4.7% in its stock market debut after the spin-off from DowDuPont.
Additionally, the S&P index demonstrated 31 fresh 52-week peaks and two new lows, while the Nasdaq came up with 44 new maximums as well as 33 new lows.
More tariffs were introduced
Yesterday, the US Justice Department announced a broad antitrust review ...
We've got some positive news for the British pound and we are awaiting the release of the core retail sales for Canada at 15:30 MT.
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
The European trading session will be highlighted by the events for the British pound. Traders will pay special attention to the BOE meeting at 14:00 MT.