Benchmark 10-year Treasury note yields fell four basis points, or 0.04 percentage point, to 1.52 percent as of 2:24 p.m.in NY, according to Bloomberg Bond Trader data. The firm almost erased its loss for the year.
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“The expectations for Apple were abysmal”, said Daniel Morgan, a portfolio manager at Synovus Trust Company who owns Apple shares.
That was scaled back to two hikes this year after central bank policymakers issued new projections in which they also lowered their longer-term growth estimates for the US economy.
Google parent Alphabet and online retailer Amazon.com are expected to report results after the bell.
Earnings of S&P 500 companies are expected to fall 3 percent, compared with the 5 percent decline estimated at the start of the earnings season, according to Thomson Reuters I/B/E/S.
Coca-Cola, another component of the Dow, fell $1.48, or 3.3 percent, to $43.40 after the beverage giant trimmed its sales outlook for the year, citing weak demand in China and other global markets.
The firm has faced headwinds in the U.S. and internationally as more consumers move away from sugary drinks.
Earlier, Shares of Boeing rose 0.8 per cent after the company reported a much small-than-expected loss in its core quarterly results.
Yields on 30-year Treasuries dropped five basis points to 2.23 percent. “Fundamentally, is this going to work?”
(Adds trader bets on rate rises, analyst comments, Yellen speech at Jackson Hole) * Fed says near-term risks to economic outlook diminished * Target interest rate still 0.25 percent to 0.50 percent * Economy growing moderately, job gains strong -Fed By Lindsay Dunsmuir and Howard Schneider WASHINGTON, July 27 (Reuters) – The Federal Reserve left interest rates unchanged on Wednesday but said near-term risks to the USA economic outlook had diminished, opening the door to a resumption of monetary policy tightening this year.
The Federal Open Market Committee chose to forgo raising the federal funds rate in its latest July meeting as the market starts to recover from the initial impact of the United Kingdom. Investors will get another policy decision by one of the world’s central banks on Friday, when the Bank of Japan is likely to vote to increase its economic stimulus efforts.
Brent crude, used to price worldwide oils, fell 1.40 dollars (£1.06) to 43.47 dollars (£32.90) a barrel in London.
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Coca-Cola, another component of the Dow, fell 1.48 dollars (£1.12), or 3.3%, to 43.40 dollars (£32.90) after the beverage giant trimmed its sales outlook for the year, citing weak demand in China and other global markets. The dollar rose to 105.23 yen from 104.63 yen and the euro fell to $1.1054 from $1.0986. Marathon Oil, Transocean and Hess Corporation all fell roughly 4% or more. Oracle was up 1.8 per cent.
