|Day's Range||8,622.35 - 8,658.48|
|52 Week Range||6,190.17 - 8,705.91|
U.S. stocks were higher and Treasury yields declined Wednesday following Federal Reserve’s final monetary policy decision of the year. In this, central bank officials decided to keep key interest rates at current levels and telegraphed rates would remain on hold through next year.
The Federal Reserve held interest rates steady on Wednesday and messaged that it could continue to maintain rates where they are through 2020.
Stocks closed higher Wednesday, after the latest policy statement from the Fed sent indexes to session highs, although indexes continued to make narrow price moves overall.
U.S. stocks came off session lows to clinch modest gains on Wednesday after the Federal Reserve indicated it would keep interest rates at current levels through the whole of next year, concluding its two-day meeting. The S&P 500 closed up 0.3% to end at around 3,141.63. The Dow Jones Industrial Average picked up 30 points, or 0.1%, to close near 27,911.30, based on preliminary numbers. The Nasdaq Composite finished 0.4% higher to end at 8,654.05. The Fed held interest rates at a range between 1.50% to 1.75%, and suggested its benchmark lending rate would stay at those levels through all of next year in the so-called dot plot. The potential for financial conditions to stay accommodative helped bolster sentiment around risky assets like stocks.
Dollar-cost averaging is a popular strategy in which an investor purchases an asset at regularly timed intervals to mitigate the risk of buying high. But what about “dollar-cost ravaging?”
Wall Street's main stock indexes moved modestly higher on Wednesday after the U.S. Federal Reserve held interest rates steady and signaled that borrowing costs are likely to remain unchanged indefinitely. The U.S. central bank said moderate economic growth and low unemployment are expected to continue through next year's presidential election.
U.S. stocks are slightly higher Wednesday as investors digest a decision by the central bank to stay on hold indefinitely.
The Federal Reserve left its benchmark interest rate unchanged and signaled no changes next year after its latest meeting to evaluate the economy. The Fed's so-called dot plot shows no rate hikes in 2020 and just one in 2021. The "current stance of monetary policy is appropriate to support sustained expansion of economic activity," the Fed said Wednesday. The U.S. appears to have stabilized at steady but slower rate of growth and inflation is still below the Fed's 2% target. The vote was unanimous to leave the short-term fed funds rate at a range of 1.5% to 1.75%.
The main U.S. stock indexes were steady, but semiconductor stocks rose in response to a report saying sales of chip-making equipment will rise next year.
The S&P 500 and the Nasdaq indexes held on to gains on Wednesday as traders awaited the Federal Reserve's December policy statement for clues on the domestic economy's strength, while the Dow Jones index was pressured by losses in Boeing and Home Depot. The U.S. central bank is widely expected to keep borrowing costs steady in its policy announcement, due at 2:00 p.m. ET (1900 GMT).
BofA analyst Tal Liani reiterated his Buy rating for Qualcomm shares, citing the company’s future revenue opportunity with Apple.
The Dow Jones index was pressured by losses in Boeing and Home Depot on Wednesday, while the S&P 500 and the Nasdaq held on to gains as traders awaited the Federal Reserve's December policy statement for clues on the strength of the domestic economy. The U.S. central bank is widely expected to keep borrowing costs steady in its policy announcement, due at 2:00 p.m. ET (1900 GMT).
The prices Americans pay for everything from toothpaste to housing rose 0.3% in November from a month earlier, the Labor Department said. That’s slightly hotter than the 0.2% pace economists anticipated, but likely not enough to stir the Federal Reserve to cut rates further.
The blue-chip Dow Jones index came under pressure from losses in Boeing and Home Depot on Wednesday, while the S&P 500 and the Nasdaq eked out gains as investors awaited the Federal Reserve's policy statement for clues on the strength of the economy. The U.S. central bank is widely expected to keep borrowing costs steady in its latest policy announcement, due at 2:00 p.m. ET (1900 GMT).
The major stock indexes held uneven gains Wednesday, as Boeing and Home Depot stock weighed heavily on the Dow Jones Industrial Average.
Markets are also awaiting Fed Chair Jerome Powell's outlook on the economy when he holds a news conference later in the day. "As we haven't seen the effect of the three rate cuts that took place between June and October, the Fed might drop hints that it will keep policy as is for a while," said David Madden, market analyst at CMC Markets in London.
U.S. stocks opened mixed on Wednesday ahead of an eagerly awaited policy update by the Federal Reserve which could deliver clues on the interest rate outlook. The S&P 500 was up 0.2% to 3,137. The Dow Jones Industrial Average shed 27 points, or 0.1%, to 27,854. The Nasdaq Composite rose 0.2% to 8,630. All three benchmarks ended Tuesday within 1% or less of their record closes set nearly two weeks ago on Nov. 27. The Fed is expected to stand pat but could point to how the interest rate path for next year may shape up. Investors saw signs of an inflation pickup on Wednesday, with consumer prices up 0.3% in November. The prospect for a delay to tariffs would also remain in focus amid comments by White House advisers Larry Kudlow and Peter Navarro who have both suggested import duties could still take place at the end of the week.
Do stock and bond markets care about impeachment? The stock market is preoccupied, at least as portrayed by the media, with the status of trade negotiations between the U.S. and China over a phase-one deal that would provide some tax relief to China in exchange for its commitment to increase purchases of U.S. agricultural products. “Obsessed” is more like it, with every intimation that an agreement is nearing conclusion or facing hurdles sending stock prices (SPX)(DJIA) soaring or tumbling.
Dow futures: The stock market still seeks China trade clarity, but Apple, AMD, Google, Microsoft and Target are acting like true leaders.