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Wall Street Climbs on Earnings and Fed Rate Cut Expectations

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U.S. stocks were mixed on Thursday as investors waited for the Federal Reserve's decision on interest rates, due later in the day.

U.S. stocks were mixed on Thursday while investors awaited the Federal Reserve's decision on interest rates, scheduled for later in the day.The S & P 500 gained 0.4 percent in early trading, although its momentum slowed significantly after a sharp rise the day before following Donald Trump's presidential victory.The Dow Jones Industrial Average fell 62 points, or 0.1 percent, while the Nasdaq composite rose 0.7 percent.

In contrast, British chipmaker Arm Holdings reported solid earnings but issued disappointing guidance, causing its U.S.-listed shares to drop one percent.Match Group, the parent company of the Tinder app, saw a significant drop, falling 18 percent after missing revenue expectations due to continued underperformance of Tinder.Overseas, London's FTSE 100 was flat after the Bank of England cut its interest rate by 0.25 percent.In Asia, Japan's Nikkei 225 fell 0.

 

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