Wall Street was mixed on Tuesday as investors awaited a widely expected Fed inte...
- Wall Street was mixed on Tuesday as investors awaited a widely expected Fed interest rate cut on Wednesday, while the impact of weekend attacks on Saudi Arabia’s biggest oil refinery faded.
Equity markets took a hit on Monday after the attacks wiped out nearly half of Saudi Arabia’s oil production, sending oil prices soaring and fuelling geopolitical tensions. “People were thinking it would be months until we got that production back on line, and now it seems more like weeks. Putting that production back on line alleviates the risk of a higher disruption,” said Keith Buchanan, a portfolio manager at GLOBALT Investments in Atlanta.
Investors will also wait for clues on how far the U.S. monetary policy easing would go, given that Fed policymakers are deeply divided on whether more rate cuts are warranted.
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