Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan

Stock

Dow climbs slightly before Fed rate announcement

Dow Jones Futures climbed slightly on Wednesday, hours before the Federal Reserve’s rate decision as investors anticipated the widely expected interest rate cut by the Fed.

Markets have fully priced in a 25 basis point cut at the end of a Fed meeting on Wednesday, while the focus will be on long-term rate outlook signals. The Fed is expected to adopt a slower rate cut path after lowering rates in December.

The policy decision is expected to be announced at 2:00 PM ET.

Dow Jones Futures climbed to 43,541.82 points, after the index recorded its longest losing streak since 1978 on Tuesday.

S&P 500 Futures fell 0.08% to 6,045.99 points, while Nasdaq 100 Futures fell 0.11% to 20,087.95 points by 09:50 ET (14:50 GMT).

Fed set to cut rates, markets assess retail sales data

Market focus will be squarely on the Fed’s economic projections for the next year, and comments from Chair Jerome Powell.

This could help investors gauge the Fed’s long-term rate outlook, at a time when inflation has remained stubborn and is expected to rise further under upcoming President Donald Trump.

Investors expect the Fed to indicate a slower pace of rate cuts in 2025, as persistent inflation and a strong labor market—two key challenges for the Fed—continue to pose concerns.

On Tuesday, data showed that retail sales rose by 0.7% in November, above the 0.5% forecast.

Stronger-than-expected retail sales data signals that the economy remains strong and consumer spending remains robust, despite challenges like inflation and high interest rates.

This strength was driven by a solid labor market and steady household finances.

Tech drags Wall St, Dow falls for ninth straight session

Wall Street indexes retreated on Wednesday with the tech sector giving away some of its recent gains, as investors exercised caution ahead of the rate decision.

Apple Inc (NASDAQ:AAPL) fell 0.14%, while Alphabet (NASDAQ:GOOG) was down 0.54%.

The S&P 500 is up 0.08% to 6054.80 points, while the NASDAQ Composite lost 0.02% to 20,107.36 points. The Dow Jones Industrial Average closed 0.31% lower at 43,583.73 points.

The Nasdaq reached a record high on Monday, and the S&P 500 is sitting on hefty gains this year, but the Dow has faced challenges, marking its ninth consecutive daily decline on Tuesday — the longest losing streak since February 1978.

This post appeared first on investing.com
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    You May Also Like

    Latest News

    The Gateway Pundit, a far-right website, published a note from its editor on Saturday acknowledging that two election workers in Georgia did not engage...

    Latest News

    New majorities in Congress, particularly when the incoming party has a new leader, offer the rare chance for the institution to take a breath...

    Latest News

    Sister Stephanie Schmidt had a hunch about what her fellow nuns would discuss over dinner at their Erie, Pennsylvania, monastery on Wednesday night. The...

    Investing

    JAKARTA (Reuters) -Indonesia has asked Alphabet (NASDAQ:GOOGL)’s Google and Apple (NASDAQ:AAPL) to block Chinese fast fashion e-commerce firm Temu in their application stores in...



    Disclaimer: alivebusinessplan.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 alivebusinessplan.com