
U.S. Stocks were mostly up on Wednesday as investors digested the Federal Reserve’s decision to keep rates unchanged and focused on big tech earnings. The S&P 500 crossed 7,000 earlier in the day before closing below this level. while the Nasdaq 100 edged higher, supported by chip stocks. Dow Jones closed flat at 48,976.
In after-hours trading, Meta Platforms jumped 10% on strong revenue guidance, Microsoft declined on slowing cloud growth and softer margin outlook, and Tesla rose 2% after beating expectations. Meanwhile, Gold surged past $5,500, extending its record rally as the U.S. dollar weakened.
The U.S. Federal Reserve kept interest rates unchanged at 3.5%–3.75%, as expected, with Chair Jerome Powell emphasizing improving economic and labor market conditions. The Fed signaled steady economic growth and a stabilizing labor market, though markets still price in two rate cuts by the end of 2026. Attention now turns to upcoming earnings from Apple and key U.S. economic data, including jobless claims and durable goods orders.
In the commodity market, crude oil prices climbed more than 2.5% after Donald Trump sharply escalated rhetoric toward Iran, and urging the country to quickly strike a deal on its nuclear program.
Brent crude settled at $68.40 per barrel and U.S. WTI at $64.22, as markets priced in heightened geopolitical risk.
Gold extended its record breaking rally for a ninth straight day, surging over 3% to around $5,600 during the Asian session. The move has been driven by intense safe-haven demand amid rising geopolitical and economic uncertainty, alongside a sharp decline in the US dollar to its weakest level since February 2022.
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