S&P and Nasdaq Gain
US stocks were mostly higher on Wednesday, with the S&P 500 rising 0.3% and the Nasdaq adding 0.4% while the Dow Jones traded around the flatline. Investors remained cautious ahead of the Fed’s monetary policy decision later in the day and awaited quarterly earnings from major companies, including Microsoft and Alphabet, due after the closing bell. The Fed is widely expected to leave interest rates unchanged, following a 25bps rate hike last month, with investors focused on policymakers’ guidance for the remainder of the year. Meanwhile, US semiconductor stocks advanced in premarket trading, supported by record quarterly profits from South Korea’s SK Hynix. Broadcom (2%), Micron Technology (4.9%), AMD (1.8%) were higher and Alphabet added 1.2% amid news that OpenAI plans to buy Google's AI chips. In contrast, real estate and materials were the worst performing sectors.
US stocks were mostly higher on Wednesday, with the S&P 500 rising 0.3% and the Nasdaq adding 0.4% while the Dow Jones traded around the flatline. Investors remained cautious ahead of the Fed’s monetary policy decision later in the day and awaited quarterly earnings from major companies, including Microsoft and Alphabet, due after the closing bell. The Fed is widely expected to leave interest rates unchanged, following a 25bps rate hike last month, with investors focused on policymakers’ guidance for the remainder of the year. Meanwhile, US semiconductor stocks advanced in premarket trading, supported by record quarterly profits from South Korea’s SK Hynix.
Broadcom (2%), Micron Technology (4.9%), AMD (1.8%) were higher and Alphabet added 1.2% amid news that OpenAI plans to buy Google's AI chips. In contrast, real estate and materials were the worst performing sectors.