Stocks Edge Higher as Fed Holds Rates and Leaves December Outlook Uncertain — US Market Wrap
US stocks edged higher after the Federal Reserve left interest rates unchanged and offered little guidance on whether policymakers would deliver another increase in December. The S&P 500 gained 0.3% following a volatile session. Oracle surged 11% after its long-term free cash flow outlook eased concerns about returns on its artificial-intelligence investments. In after-hours trading, Microsoft advanced on strong cloud revenue, while Alphabet declined following disappointing results. Short-dated Treasuries outperformed. The Federal Open Market Committee voted 10-2 to maintain its benchmark interest rate at 3.75% to 4%, with policymakers emphasizing that incoming economic data will help determine their next move. Fed Chair Kevin Warsh reiterated the central bank's willingness to adjust policy as conditions require, while announcing plans to introduce an amended meeting schedule next year, with rate-setting votes expected at seven of the eight scheduled meetings.
US stocks edged higher after the Federal Reserve left interest rates unchanged and offered little guidance on whether policymakers would deliver another increase in December. The S&P 500 gained 0.3% following a volatile session. Oracle surged 11% after its long-term free cash flow outlook eased concerns about returns on its artificial-intelligence investments. In after-hours trading, Microsoft advanced on strong cloud revenue, while Alphabet declined following disappointing results.
Short-dated Treasuries outperformed. The Federal Open Market Committee voted 10-2 to maintain its benchmark interest rate at 3.75% to 4%, with policymakers emphasizing that incoming economic data will help determine their next move. Fed Chair Kevin Warsh reiterated the central bank's willingness to adjust policy as conditions require, while announcing plans to introduce an amended meeting schedule next year, with rate-setting votes expected at seven of the eight scheduled meetings.