U.S. stocks open lower amid data
Xinhua,February 02, 2018 Adjust font size:
NEW YORK, Feb. 1 (Xinhua) -- U.S. stocks opened lower on Thursday, giving back some of the strong gains made during the previous month.
Shortly after the opening bell, the Dow Jones Industrial Average lost 121.42 points, or 0.46 percent, to 26,027.97. The S&P 500 decreased 7.09 points, or 0.25 percent, to 2,816.72. The Nasdaq Composite Index was down 27.11 points, or 0.37 percent, to 7,384.37.
On Wednesday, The U.S. Federal Reserve left its benchmark interest rates unchanged at 1.25 to 1.5 percent after its two-day meeting, while giving an upbeat assessment of recent U.S. economic growth.
"Gains in employment, household spending, and business fixed investment have been solid, and the unemployment rate has stayed low," the Fed's policy-making committee said in a statement.
The Fed also expected U.S. inflation on a 12-month basis to "move up this year and to stabilize" around the central bank's 2 percent target over the medium term. Enditem