Power Breakfast: Global Markets Sluggish, Apple Declines For The Second Consecutive Day, All Eyes Are On Fed Chairmans Statement

Mixed action was seen in the US markets on Thursday. The Dow Jones closed flat and the Nasdaq fell 0.6%. However, in the last hour, Dow Jones recovered by 200 points from the day's low. Apple's stock fell 2% for the second consecutive day. Apart from this, the market has further increased the estimate of supply shortage. Consumer Confidence Data was better than expected. The 10-year bond yield rose to near 3.75%. The inversion of 10-year and 2-year yields further increased. Today all eyes are on Fed Chairman Jerome Powell's statement.