Dow Jones stocks edged higher in the stock market today as investors awaited Powell's remarks and earnings from three tech titans.
The Dow Jones fell Wednesday ahead of the Fed interest rate decision and Fed Chair Powell's comments. Meta and Tesla earnings are next.
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 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.
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 Fed held rates steady as Jerome Powell took a wait-and-see approach to Donald Trump’s tariff plans, citing uncertainty over their economic impact. Markets reacted cautiously amid inflation concerns.
Fed chair Jerome Powell said asset prices were "elevated by many metrics" and a "good part" of that is due to AI and tech. Read more here.
Central bank policymakers are widely expected to stand pat on interest rates. Investors await further details from Fed Chair Jerome Powell’s press conference.
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.
A gauge of the “Magnificent Seven” megacaps dropped 1.5%, with Nvidia Corp. down 6%, as stocks remained lower after the Federal Reserve’s decision to hold rates.
The Dow Jones gained 150 points on Tuesday at its peak. The Fed’s latest rate call looms ahead in the midweek. Tariff threats from US President Trump hang over the markets. The Dow Jones Industrial Average (DJIA) rose around 250 points on Tuesday at its highest point,