EPAM, Gartner, and Accenture Shares Fall After Fed Holds Rates

MacroIndustry
โดย Yahoo Finance·Read original
Summary · why it matters

Shares of IT services companies EPAM, Gartner, and Accenture fell in the afternoon session after the Federal Reserve held its benchmark rate at 3.5% to 3.75% and its dot plot signaled the easing cycle might reverse. EPAM dropped 4.9%, Gartner fell 4%, and Accenture declined 4.2%. The FOMC's message was unfavorable for firms relying on multi-year enterprise transformation contracts, as CFOs who had been loosening IT budgets in anticipation of further rate relief now face a financing environment pointing in the opposite direction. Discretionary IT spend is typically one of the first budget lines to compress when the rate outlook hardens, and the dollar's strengthening on the session's yield surge reduces the value of US-dollar earnings for offshore-heavy firms.

Impact on stocks 6

Information Technology▼ · 3 stocks
Gartner Inc
IT
▼ NegativeMonetaryrelevance

Fed holds rates and signals possible reversal, tightening financing environment for enterprise IT contracts, reducing demand for Gartner's services.

Artificial Intelligence▼ · 2 stocks
EPAM Systems Inc
EPAM
▼ NegativeMonetaryrelevance

Fed holds rates and signals possible reversal, tightening financing environment for enterprise IT contracts, reducing demand for EPAM's services.

Cloud & Digital Infrastructure▼ · 1 stocks
Accenture plc
ACN
▼ NegativeMonetaryrelevance

Fed holds rates and signals possible reversal, tightening financing environment for enterprise IT contracts, reducing demand for Accenture's services.

Theme Impact 1

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