News Highlights: Top Global Markets News of the Day - Wednesday at 3 PM ET

Fed Says Inflation Progress Has Stalled and Extends Wait-and-See Rate Stance 
 

Officials also approved a plan to slow the ongoing reduction of their $7.4 trillion asset portfolio.

 
Stocks Little Changed After Fed Decision 
 

Stocks are little changed in afternoon trading following the Federal Reserve's widely expected decision to keep rates steady.

 
ADP says 192,000 private-sector jobs created in April. Labor market not cooling off much. 
 

U.S. businesses created 192,000 new jobs in April, paycheck company ADP said, and more industries hired people last month in a sign of ongoing labor-market strength.

 
Restaurant Winners Have a Common Trait: Keeping a Lid on Prices 
 

Restaurant chains outperforming their competitors seem to have one thing in common: keeping prices down.

 
Adjustable-rate mortgage demand surges to highest level this year 
 

Mortgage applications fell 2.3% in the last week, the Mortgage Bankers Association said. The average rate for a 30-year mortgage is 7.29%.

 
Construction spending posts bigger-than-expected drop 
 

Construction spending fell 0.2% in March, the Commerce Department reported Wednesday.

 
U.S. manufacturing improvement goes into reverse in April: ISM 
 

Manufacturing PMI slumps to 49.2%, prices jump to highest since June 2022

 
U.S. Crude Oil Inventories Post Big Build Amid Lower Refinery Runs 
 

Commercial crude oil stockpiles rose by 7.3 million barrels last week, after analysts had predicted a 1.5 million barrel decrease.

 
Job openings in the U.S. fall to the lowest level in three years 
 

The number of job openings in the U.S. fell to 8.5 million in March and touched the lowest level in more than three years, suggesting the demand for labor is slowly waning.

 
Companies Trim Debt, Faced With High Rates 
 

The current high interest rates have pushed up the cost of borrowing for most companies, forcing them to tackle their debts, analysts said.

(END) Dow Jones Newswires

May 01, 2024 15:15 ET (19:15 GMT)

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