Wall Street starts in the red at the start of the Fed meeting

New York opened the session trading in negative territory, after data on retail sales were released, which fell by 0.9% in May. The conflict in Iran has also contributed to investors' cautious spirit.

Today begins the two-day meeting of the US Federal Reserve.

The Dow Jones index slipped 0.35%, to 42,364.90 points, the S&P 500 fell 0.39%, to 6,009.38 points, and the Nasdaq lost 0.41%, to 19,617.11 points.

Chevron is up 1.28%, Salesforce is up 1.26%, Cisco is up 0.56% and IBM is up 0.43%. In the opposite direction, Nike is down 1.75%, Verizon is down 1.45%, American Express is down 0.67% and Boeing is down 0.19%.

Millennium Investment Banking market analyst Ramiro Loureiro says that “Wall Street is off to a low start, with companies linked to the solar energy sector falling sharply, after Senate Republicans released a bill that would end tax credits for wind and solar energy earlier than for other sources. The conflicts in the Middle East are currently taking center stage, and it is noted that Donald Trump has issued a warning to evacuate Tehran and abandoned an important meeting in Canada with G-7 leaders, to return to Washington as soon as possible to deal with important matters, which is affecting investors.”

“The US president will continue to pressure the Fed to reduce interest rates, on the eve of the Central Bank’s decision, with the market anticipating that he will leave everything the same,” says the analyst.

In the oil market, Texas WTI gained 1.77%, setting the price per barrel at $71.48, and Brent rose 1.79% to $74.56. Natural gas rose 2.09% to $3.826.

In the foreign exchange market, the euro appreciated 0.02% against the dollar, settling at 1.156 dollars.