Facebook and Netflix climbed 4.2% and 3.2%, respectively, while Amazon advanced 0.9%. Alphabet climbed 0.7% while Apple advanced 0.6%.is scheduled to start a two-day monetary policy meeting on Tuesday. Expectations for any policy changes are low, but investors will look for clues about potential rate cuts in July and later in 2019.
"The market is going to be looking for evidence that the Fed will open the door to possibly cut rates within the next three months." Traders work on the floor of the New York Stock Exchange during morning trading on October 27, 2014 in New York City. Stocks were lower in morning trading.The Fed will make its monetary-policy announcement on Wednesday. Fed Chair Jerome Powell is scheduled to hold a news conference after the announcement.
Worries over the economy have increased recently after jobs growth and manufacturing activity slowed last month. The U.S. economy is expected to grow by 2.1% in the second quarter, according to the Atlanta Federal Reserve'sLingering trade tensions are also dampening the economic outlook on Wall Street. China and the U.S. have yet to strike a trade deal. Earlier this year, the two sides were expected to reach an agreement that would eliminate tariffs on Chinese and U.S. goods.
The stocks would be even higher if President Butthole would stop implementing those stupid tariffs!
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