US Stocks Hold Steady as the Countdown Ticks to a Federal Reserve Decision on Interest Rates
Chip stocks rose after SK Hynix reported record quarterly profit, while traders priced in a 90% chance the Federal Reserve holds rates steady.
- U.S. stocks drifted higher early Wednesday as investors await the Federal Reserve's interest rate announcement later today, with markets widely expecting the central bank to hold rates steady.
- The Federal Reserve raised its main interest rate last month for the first time in three years, aiming to slow high inflation that is squeezing the economy.
- Early Wednesday, the S&P 500 rose 0.2% while tech stocks surged, and the yield on the 10-year Treasury edged up 0.25% to 5.0% reflecting inflation concerns.
- Memory chipmaker SK Hynix jumped 11.4% after reporting record quarterly profit of 83.3 trillion won , while Brent crude rose nearly 2% following attacks on a Saudi Arabian refinery.
- Globally, the Bank of Japan begins a two-day policy meeting on Thursday with rates expected unchanged, while Germany's DAX edged up less than 0.1% and Britain's FTSE 100 declined 0.3%.
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42 Articles
The three major New York stock indices opened higher across the board ahead of the U.S. Federal Reserve's (Fed) decision on benchmark interest rates. Semiconductor-related stocks also showed strength, buoyed by strong earnings from SK Hynix. At 9:32 a.m. local time on the 28th, the Dow Jones 30 Industrial Average recorded 52,414.84 on the New York Stock Exchange, up 37.27 points (0.07%) from the previous trading day. Standard & Poor's (S&P)
New York opened the session in positive ground, on the day of Federal Reserve decision on interest rates. The Dow Jones index records an advance of 0.11% to 52,435.86 points, the S&P500 increases 0.10% to 7,730.96 points and the Nasdaq adds 0.13% 26.519.22 points. UnitedHealth rises 0.86%, Nvidia increases 0.23%, Salesforce gains 0.51%, Goldman Sachs adds 0.55% and 3M advances 0.20%. In countercycle, Sherwin-Williams loses 1.75%, Walmart drops 0…
Reformatorisch Dagblad
New York stock exchanges opened with small gains on Wednesday ahead of the US Federal Reserve's interest rate decision later in the day. Additionally, quarterly earnings from Microsoft and Google parent company Alphabet will be released after the close of trading on Wall Street. New York-listed Dutch chip manufacturer NXP Semiconductors was among the losers following its results.
The Bakersfield Californian
US stocks hold steady as the countdown ticks to a Federal Reserve decision on interest rates
U.S. stocks are drifting as the countdown ticks toward this afternoon’s announcement from the Federal Reserve on what it will do with interest rates. The S&P 500 rose 0.2% Wednesday. The Dow Jones Industrial Average added 31 points, and the…
Wall Street opens the positive session, on the day of the announcement of the decisions of the Federal Reserve that, at the end of the Fomc, should keep the rates unchanged, in the analysts' forecasts: the Dow Jones marks in the first beats a rise of 0.10... (ANSA)
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