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Chicago Bridge & Iron (CBI) Has Dropped To A New Low For The Year

Chicago Bridge & Iron (CBI) gapped open lower Friday and has continued to decline in early trade. The stock is now down 4.47 at $34.00 on above average volume.

Chicago Bridge & Iron has fallen below a month and a half long trading range this morning and has set a new low for the year.

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All eyes were on the U.S. Federal Reserve this week as the bank announced its latest policy decision. Find out the signals given out by Chair Jerome Powell regarding the future path of interest rates. Some key data on the U.S. private sector economy were also released. Other main news included the flash estimates of first quarter GDP from Eurozone. Elsewhere, the Paris-based think tank OECD released its latest round of macroeconomic projections for the global economy.

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