GLOBAL MARKETS-Stocks set for monthly drop, dollar rebounds as data, Fed loom large [Yahoo! Finance]
Apple Inc. (AAPL)
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Source: Yahoo! Finance
counterparts on the path toward a monthly loss as crucial economic data waits in the wings and the U.S. Federal Reserve convenes for its two-day policy meeting. Gold sank, the dollar rebounded and benchmark U.S. Treasury yields ticked higher after a report from the Labor Department showed hotter-than-expected first-quarter employment cost growth, which is unlikely to alter the Fed's restrictive stance. All three major U.S. indexes are on track for their first monthly percentage losses since October. "We have reached new highs in the S&P this year, but there comes a time when a market needs to digest those gains," Sam Stovall, chief investment strategist of CFRA Research in New York. "The old 'sell in May' adage might have come true a month early." The Federal Reserve Open Market Committee (FOMC) gathers on Tuesday for its monetary policy meeting, which is expected to culminate on Wednesday with a decision to leave the Fed funds target rate in the 5.25%-5.50% range. The accom
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AAPL
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- 5/2/24 - Beat
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