The major indexes already were modestly to strongly higher, fueled by positive reactions to earnings from Microsoft , Google parent Alphabet and Enphase Energy . The administration said in late March it would release a record 1 million barrels of oil per day for six months from the SPR. Gross domestic product slowed in the first quarter of the year by 1.6%, and is expected to decline again in the second quarter. For the week, Ethereum was trading lower by about 6.25%. However, for the month, it was trading higher by nearly 20%.

stock market news today

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. Futures of the Dow Jones Industrial Average gained 0.52%, while those of the S&P 500 moved 1% higher, as of 5.46 a.m. Meanwhile, the Nasdaq 100 futures advanced significantly by 1.57%.

Dow Makes Comeback After Falling More Than 1,100 Points

WTI crude oil remains below $100 per barrel as demand for gasoline remains lower than pre-pandemic levels, which is the result of high prices at the pump. As a result, the price is hovering around the high-$95 per barrel range, up roughly 0.5% from the previous close. The market seems to be taking cue from the Fed chief’s observation that, “I don’t think we are in a recession now, the labour market continues to be tight.” Bajaj Finance surged 5.8% to its highest in nearly three months, topping gains on the Nifty 50, after the non-bank lender reported stronger-than-expected first-quarter results. There could still be a “day two” Fed meeting reversal.

  • Most importantly, Wednesday will see the Federal Reserve announce its latest decision on interest rates, which is most likely to be appraised by 75 basis points.
  • The market rally weathering this news-packed week, so far, is definitely a positive.
  • The stock has gained 3.0% over the past three months through Wednesday, while the Dow Jones Industrial Average has lost 5.1%.
  • Chipotle Mexican Grill rallied 14.7% after the burrito chain reported second-quarter earnings of $9.30 per share, more than analysts were expecting.
  • IBD Videos Get market updates, educational videos, webinars, and stock analysis.

The Biden administration and allies of the president are pushing for the public to “ignore” the definition of a recession ahead of Thursday’s GDP report. Nearly a quarter of first-time homebuyers open a credit card when they close on a home. Why that could be a bad idea, especially as a recession looms. It can provide benefits, like building credit or long-term investments such as buying a house to build wealth over time. Former Atlanta Fed President Dennis Lockhart discusses the Fed’s decision to raise interest rates by 75-basis points and what it means for the economy and future rate decisions.

Solar Stocks Surge After Manchin Supports Bill

Mutual Fund and ETF data provided byRefinitiv Lipper. Pre-Market Update Stock futures are indicating markets will open higher today Forex news after yesterday’s lackluster close. Futures on the Dow Jones Industrial Average are up 0.14%, while those on the S&P 500 are up…

Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements. Schumer had said Democrats would be pushing ahead on a pared-down economic package, after Manchin had forced his party to narrow its approach. Stocks rose after the Federal Reserve announced its intentions to raise interest rates by three-quarters of a percentage point for the second consecutive time to combat record-high inflation. Yahoo Finance’s Brian Forex Cheung joins the Live show to detail Fed Chair Jerome Powell’s statements on the latest FOMC meeting and the outlook on future interest rate hikes. Calit Advisors Partner Lenore Elle Hawkins and Lisa Erickson, U.S. Bank SVP & Public Markets Group Head, join Yahoo Finance Live to discuss market reactions to the Fed’s 75 basis-point rate hike, as wel… The Federal Reserve’s most recent Federal Open Market Committee statement Wednesday , which accompanied another historic 75 basis point rate hike, had sca…