Sep 17, 2020
Heres what happened to the stock market on Wednesday
This news has been received from: msn.com
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New York Mets vs. Philadelphia Phillies Live Stream, MLB Lineups, TV Channel, Start Time Prefab cabins that can be shipped to your door Heres what happened to the stock market on Wednesday © Provided by CNBC Jerome Powell, chairman of the U.S. Federal Reserve, pauses while speaking during a news conference in Washington, D.C., on Tuesday, March 3, 2020. Dow Jones Industrial Average rises 36 points
The Dow rose 36.78 points, or 0.1%, to 28,032.38. The S&P 500 slid 0.5% to 3,385.49. The Nasdaq Composite dropped 1.25% to 11,050.47. The S&P 500 and Nasdaq pulled back as shares of major tech companies declined. Traders also digested the latest monetary policy decision from the Federal Reserve.
Load ErrorFed to keep rates low for years
The U.S. central bank kept interest rates near zero. Members of the Fed's policymaking committee also indicated the overnight rate could stay near zero through 2023. "With inflation running persistently below this longer run goal, the Committee will aim to achieve inflation moderately above 2 percent for some time so that inflation averages 2% over time," the Federal Open Market Committee said in a statement. Fed Chairman Jerome Powell reiterated the central bank's approach, telling reporters in a news conference: "We expect to maintain an accommodative stance of monetary policy until these outcomes, including maximum employment, are achieved."Tech spoils potential rally
Shares of Apple dropped 2.9% and Microsoft slid 1.8%, capping the gains for the 30-stock Dow. Facebook dipped 3.3% and Amazon closed 2.5% lower. Netflix and Alphabet declined by 2.5% and 1.5%, respectively.What happens next?
The latest data on weekly jobless claims is set for release Thursday. Housing starts numbers are also on the agenda.
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COVID-19: Heres Percentage Of Those Who Plan To Shop Online For Foreseeable Future
Nearly half of all Americans, 42 percent, have spent less in the last six months, and even more plan to shop online for the "foreseeable future," according to a study conducted by TopCashBack.com.
Eighty-one percent of respondents to the cashback site's survey indicated that they would shift the majority of their shopping online in coming months.
The company offered 10 shopping tips to help consumers combine these trends--saving money and shopping online.
- Price check your purchase: before you click "go to check out," check other online retailers to see if your item is available at a lower price.
- Look for savings: look for discounted items and use search engines to find coupon codes for online stores and brands
- Get cash back: use cashback credit cards and shop through sites like TopCashBack.com
- Get on their email list: sign up for a retailer's email list, and you'll probably get a discount on your next purchase
- Take advantage of discounts for first-time shoppers
- Sign up for stores' loyalty rewards programs
- Avoid shipping costs by picking up items in-store
- Time your purchases of seasonal items, like grills for the summer, to seasonal sales to avoid paying ticket price
- Leave your online cart: sometimes, you can trick an online retailer into offering lower prices. Just get on the store's email list and load up your cart with the items that you're eyeing and close your browser window--the site will take note of the fact that you left without purchasing your goods, and a subsequent "you left something in your cart" email may come with a discount or free shipping
- Talk to representatives: oftentimes, according to TopCashBack.com, shoppers can get additional coupons and savings by talking with a store's representatives via phone, email or use a retailer's in-site chat window. Rather than closing out a site's pop-up chat service, use it to haggle for a better deal