With inflation unexpectedly accelerating to a fresh 40-year high in June and the job market still growing at a healthy clip, the Fed is under mounting pressure https://www.chase.com/ to move more aggressively to tame demand and slow surging consumer prices. Fed policymakers are meeting to discuss raising interest rates 75 basis points.

• The Fed is widely expected to impose a second three-quarter-point hike after its two-day meeting on Wednesday.
• U.S. stock futures are higher on Wednesday as investors await the Federal Reserve’s decision on interest rates.
• U.S. stocks rallied ahead of the Federal Reserve’s decision on interest rates and following solid earnings from Microsoft and Google.
• US stocks were higher early Wednesday as investors await word from the Federal Reserve following its FOMC meeting conclusion in the early afternoon on an expected 75-basis point rate hike.

The Fed is widely expected to impose a second three-quarter-point hike after its two-day meeting on Wednesday. The administration https://youlookfab.com/member/kaesmda/profile/?updated=profile said in late March it would release a record 1 million barrels of oil per day for six months from the SPR.

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Data released on Wednesday from the Mortgage Bankers Association’s found mortgage applications fell 1.8% from the previous week. ECONOMY Mega Millions jackpot swells to over $1B after no winner in massive $830M drawing The Mega Millions lottery jackpot ballooned to $1.02 billion after no one matched all six numbers to win Tuesday night’s $830 million jackpot. The Federal Reserve Bank of Atlanta updated, on https://cellphoneforums.net/member-421205-riapseers.html?tab=visitor_messaging#visitor_messaging Wednesday, its outlook for 2Q GDP – now expected to contract less than the first estimate but still signaling a recession. The United States has already sold 125 million barrels from the reserve with nearly 70 million barrels delivered to purchasers. Prices have been on the decline since hitting a high of $5.016 on June 14, more than seven weeks ago. For the week, Ethereum was trading lower by about 6.25%.

Meanwhile, Asian stock markets followed Wall Street lower Wednesday. Diesel prices dropped early Wednesday with the national average for a gallon of diesel at $5.365. U.S. markets were higher overnight as nervous investors await a decision by the Federal Reserve on when and how much to raise interest rates. Central bank policymakers raised the benchmark https://godotengine.org/qa/134835/tile-repeat-a-sprite-texture interest rate by 75 basis points in June for the first time since 1994 and signaled that another increase of that magnitude is possible in July. U.S. stock futures are higher on Wednesday as investors await the Federal Reserve’s decision on interest rates. The average price of a gallon of gasoline slipped Wednesday morning to $4.302, according to AAA.

Microsoft Top Dow Performer

The retailer’s profit warning in the middle of the quarter is rare and raised worries about how the highest inflation in 40 years is affecting the entire retail sector. After regular gasoline reached a peak price of $5.016 on June 14, the fuel has steadily dropped to today’s price of $4.302. Fed Chairman Jerome Powell told reporters last month that failing to restore price stability would be a "bigger mistake" than crushing growth and causing a downturn. Gross domestic product slowed in the first quarter of the year by 1.6%, and is expected to decline again in the second quarter.

U.S. stocks rallied ahead of the Federal Reserve’s decision on interest rates and following solid earnings from Microsoft and Google. Boeing also got a bounce https://youlookfab.com/member/kaesmda/profile/?updated=profile after clarifying plans to restart deliveries of its 787 Dreamliner. The decrease was the fourth week in a row as home purchase activity nears pandemic levels.

Bitcoin, Ethereum, Dogecoin All Higher Heading Into Wednesday

US stocks were higher early Wednesday as investors await word from the Federal Reserve following its FOMC meeting conclusion in the early afternoon https://youlookfab.com/member/kaesmda/profile/?updated=profile on an expected 75-basis point rate hike. US stocks rose after strong tech earnings and ahead of the Federal Reserve’s decision on interest rates.

Gasoline, Diesel Prices Continue To Drop After Reaching All

However, for the month, it was trading higher by nearly 20%. Quotes displayed in real-time or delayed by at least 15 minutes. Powered and implemented byFactSet Digital Solutions.Legal Statement. Mutual Fund and ETF data provided byRefinitiv Lipper.

Home Purchase Activity Nears Pandemic Levels

FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move. "A sharper decline in inventories should support oil prices, but the rebound was limited by concerns about potential weak demand, and the White House stated that it https://youlookfab.com/member/kaesmda/profile/?updated=profile will further release strategic reserves," said Leon Li, a Shanghai-based analyst at CMC Markets. A month ago, that same gallon of diesel sold for $5.794. One year ago, a gallon of diesel cost $3.274 AAA reported. One week ago, the average price of a gallon of gasoline was $4.467.

Stock Market News: Boeing Lifts Dow, Teva Soars On Legal Deal, Fed Hikes Rates

One month ago, that same gallon of gasoline was $4.897. One year ago, a gallon of gasoline was $3.158, according to AAA. The Federal Reserve is set to escalate its war against inflation this week with another super-sized interest rate hike, risking a deeper recession when the U.S. economy is already slowing.