The S&P 500 climbed after fluctuating earlier in the session. The tech-heavy Nasdaq 100 pared losses that topped 2%.
Stocks had been buoyed in recent days by mostly solid earnings and speculation the Federal Reserve may curb the pace of rate increases. Sentiment took a hit earlier on Wednesday after earnings from megacap companies including Alphabet Inc. and Microsoft Corp. highlighted the impact the Fed, and consequently the surging dollar, had on the economy.
But it’ll be challenging for the Fed to announce that they’re going to be less hawkish, as they have to manage investors’ expectations along the way, according to Dustin Thackeray, chief investment officer at Crewe Advisors.
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