Investing.com – Wall Street’s main stock indices stabilized during these moments of trading on Wednesday, as investors awaited…
US central bankers are scheduled to conclude their two-day meeting later today. The focus will be on the Federal Reserve’s policy statement, updated economic forecasts, and Chairman Jerome Powell’s press conference.
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Traders had cut their bets on a June interest rate cut to 64% from 71% at the beginning of last week, according to .
“The two things markets will be focusing on are will there be a change in expectations, and will there also be a change in tone,” said Michael Metcalf, head of macro strategy at State Street Global Markets.
Wall Street indexes rose to all-time highs this month, buoyed by optimism about artificial intelligence, but they retreated slightly in recent weeks after reports showing strong inflation shook confidence in the Federal Reserve that it begins an interest rate easing cycle soon.
Seven of the 11 major sectors in the S&P 500 traded higher, although the health care sector ( ) underperformed, down 0.4%.
This comes in conjunction with the US dollar index rising significantly against a basket of major currencies, while global gold prices fluctuate up and down during today’s trading.
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Most large-cap growth stocks rose, with Tesla (NASDAQ:) rising 0.3% after confirming to Reuters that it would raise the price of Model Y vehicles produced in China by 5,000 ($694.55) starting April 1. Investing Pro data indicates that the company has more cash than debt on its balance sheet, but suffers from a weak gross profit margin. To learn more about Tesla stock, you can take advantage of the discount available nowUse sapro2 coupon and get an extra discount when you subscribe to InvestingPro or InvestingPro+ for a year or two. Do not miss your opportunity to join thousands of investors and traders on the InvestingPro platform. To subscribe Press here And use sapro2.
Meanwhile, the Biden administration said it gave Intel Group Inc (NASDAQ:) nearly $20 billion in grants and loans, sending the chipmaker’s shares up 1.2%.
Among other stocks, Lucid Motors (NASDAQ:) rose by 1.3%, while Canon (OTC:) fell by about 0.6%, and Nio (NYSE:) fell by about 1.9%.
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Wall Street indices at 18:40 Saudi time
It now rises by 0.03% to the level of 39,124 points.
It is now rising by about 0.02% to the level of 5,179 points.
Meanwhile, it is now falling by 0.01%, to 16,165 points.
Markets at 18:40 Saudi time
It is now declining by 0.09% to the level of $2158 per ounce.
While it fell by about 0.12% to the level of $2155 per ounce.
On the other hand, it rises by about 0.17% to the level of 103,660 points.
Meanwhile, crude futures fell by 1.6% to 86 per barrel.
While US West Texas Intermediate crude futures fell by about 1.9%, to $81.2 per barrel.
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