The Dow Jones fell Wednesday ahead of the Fed interest rate decision and Fed Chair Powell's comments. Meta and Tesla earnings are next.
Dow Jones stocks edged higher in the stock market today as investors awaited Powell's remarks and earnings from three tech titans.
Stocks perked up slightly but were still trading lower as Federal Reserve Chair Jerome Powell began speaking on Wednesday. The Dow Jones Industrial Average was down 209 points, or 0.5%. The S&P 500 was down 0.
On Wednesday, the Dow Jones Industrial Average (DJIA) remained steady, hovering around 44,700, shedding around 130 points but holding steady through the midweek market session. The major equity index is currently near its all-time highs above 45,000, but stock traders still have a bit of work to do to push bids back into those record peaks.
Stocks closed lower Wednesday after the Federal Reserve left its key interest rate unchanged amid persistent inflation, as investors prepared for a slew of earnings reports from major technology companies.
The US Federal Reserve decided to hold its key interest rate steady on Wednesday (January 29), maintaining it in the range of 4.25%-4.5%. The decision by the central bank’s Federal Open Market Committee (FOMC) came as anticipated,
US stock indices advanced on Thursday, led by post-earnings gains in Meta Platforms and Tesla. At 10:01 am ET, the Dow Jones Industrial Average rose 102.06 points, or 0.23 per cent, to 44,815.58, the S&P 500 gained 28.
The GIFT Nifty is trading flat, indicating a muted start for the day. US stocks ended lower on Wednesday, but off their lows of the day, with the Federal Reserve holding interest rates steady as expected and Fed Chair Jerome Powell offering soothing comments for investors.
Meta Platforms and Tesla helped lead most U.S. stocks higher following a rush of profit reports from some of the country’s most influential companies. The S&P 500 climbed 0.5% Thursday. The Dow Jones Industrial Average rose 0.
On Wall Street, Tesla drove 2.9% higher even though Elon Musk’s electric-vehicle company reported a weaker profit for the latest quarter than analysts expected. Mr Musk asserted Tesla will offer unsupervised “full self-driving” technology to its customers as a paid service starting in Austin in June.
U.S. stocks are mostly rising following a rush of profit reports from some of the country’s most influential companies.