Wall Street stocks rose on Wednesday in anticipation of the Federal Reserve’s decision on interest rates at the conclusion of its meeting.
At the opening, the Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) both saw gains of approximately 0.2%, following a decline in the previous session. The tech-heavy Nasdaq Composite (^IXIC) also rose by around 0.1%, recovering from losses in the tech sector during the previous trading day, which saw a decrease in Instacart’s IPO rally.
Traders are largely expecting the Fed to maintain current interest rates, with a 99% probability of a pause in its tightening campaign, according to the CME FedWatch Tool. The focus now shifts to future actions, including the possibility of rate hikes later this year and the potential for a rate cut.
As a result, attention will be on the central bank’s “dot plot” indicating the future trajectory of rates, as well as any hints provided by Fed Chair Jerome Powell’s comments.
The recent surge in oil prices…
2023-09-20 08:32:38
Original from finance.yahoo.com
rnrn