Wall Street Rises Ahead of Fed Decision By Investing.com

Bonds, Not Stocks, Are the Real Midterm Winners

TedsWoodworking Plans and Projects

Investing.com – Wall Street surged on Tuesday as the Federal Reserve begins its two-day policy meeting, with investors confident of some accommodating conclusions from the central bank later in the week.

The Federal Open Market Committee (FOMC) will make a Wednesday on interest rates and is all but certain to keep rates unchanged.

Of more interest will be the Fed’s updated forecasts for economic growth, known as the dot-plot. Weak economic data this month have increased expectations that the central bank’s top management will revise down their ideas of how many more rate hikes will be needed in the current cycle.

The rose 129 points or 0.5% by 9:41 AM ET (13:41 GMT) while the gained 10 points or 0.4% and tech-heavy was up 23 points or 0.3%.

Banking stocks were among the top gainers after the morning bell, with JPMorgan (NYSE:) jumping 1% and Goldman Sachs (NYSE:) gaining 1.3%.

Semiconductor company Advanced Micro Devices (NASDAQ:) surged 3%, while Micron (NASDAQ:) was up 1.7% and Qualcomm (NASDAQ:) rose 1.1%.

Michaels Companies (NASDAQ:) skyrocketed 6.4% after the arts and crafts retailer posted higher-than-expected earnings and FedEx (NYSE:) inched up 1.3% ahead of its earnings release after the close.

Elsewhere, Tesla (NASDAQ:) fell 1.9% after the U.S. Securities and Exchange Commission told a judge on Monday that CEO Elon Musk never sought pre-approval for his tweets about the company, violating his fraud settlement with the agency.

In commodities, rose 0.6% to $1,309.55 a troy ounce while was up 0.3% to $59.56 a barrel, close to another new high for the year. The , which measures the greenback against a basket of six major currencies, dropped 0.2% to 95.822.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link


Please enter your comment!
Please enter your name here