vichie81/iStock/Thinkstock(NEW YORK) — Investors had a rollercoaster day on Wall Street on Wednesday, as investors waited for earnings reports, and word from the Federal Reserve it won’t raise interest rates in June.
The Dow Jones Industrial Average closed at 18,285.40 on Wednesday, down 26.99 from its open.
The Nasdaq however was up slightly by 1.71 to close at 5,071.74. The S&P 500 fell by 1.98, to finish the session at a close of 2,125.85.
Stock prices for the do-it-yourself web company Etsy took a drive on Wednesday, down 20 percent after reporting heavy quarterly losses. This was Etsy’s first earnings report as a publicly traded company.
Staples stocks also felt the pinch and a one percent drop after reporting a sharp loss in first quarter earnings.
Drivers may like the cheaper gas prices at the pump, but investors aren’t as sure. Economists were optimistic that plunging oil prices would boost the U.S. economy, but analysts say it may have actually shrunk earlier this year.
Copyright © 2015, ABC Radio. All rights reserved.
