US Stocks Hold Steady as the Countdown Ticks to a Federal Reserve Decision on Interest Rates
Investors await the Fed’s rate call and hyperscaler results as chip shares rise on SK Hynix’s record profit.
- On Wednesday, U.S. stocks drifted as investors awaited the Federal Reserve's interest-rate decision and quarterly earnings from Microsoft and Alphabet, with the S&P 500 rising 0.2% to pull within 1% of its record high.
- Policymakers are widely expected to hold the benchmark interest rate steady at 3.75%-4%, with markets pricing in a 90% probability of a pause according to the CME Group FedWatch tool.
- SK Hynix reported a record operating profit of 83.3 trillion won, driving a rally in AI-related semiconductor stocks as the company expects memory demand to outpace supply through 2030.
- Following an attack on a major Saudi Arabian refinery, Brent crude climbed 1.8% to $111.33 per barrel, injecting fresh uncertainty into the global energy industry and complicating inflation forecasts.
- Investors are scrutinizing capital expenditure plans from tech giants to determine if massive AI investments will generate sustainable revenue, as Nadia El Bilassy, senior market analyst at Equiti Group, noted AI demand remains strong.
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After the decision of the Federal Reserve (Fed) within the expected and the press conference of President Kevin Warsh to present scarce details on the next steps of monetary policy, the American exchanges closed in a slight high. The session ended in a climate of expectation for the quarterly results of Alphabet and Microsoft, in another stress test in the technology sector, after the segment found some relief in recent days. The Dow Jones index…
Investors around the world are paying attention to the Fed's interest rate decision today, which will arrive at 7 pm Hungarian time, and important corporate flash reports may also move the markets today: among the giants of the tech sector, Microsoft and Alphabet are also present today. The US stock markets closed Tuesday's trading with a rise, led by the technology sector, the Asian indices also mostly rose, and on Wednesday both the European a…
U.S. Stocks Little Changed Ahead Of Fed Announcement
Following the notable upward move seen over the two previous sessions, stocks have shown a lack of direction over the course of the trading day on Wednesday. The major averages have spent the day bouncing back and forth across the unchanged line. Currently, the major averages are narrowly mixed.
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…
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