Stock market today: Wall Street holds most of its gains after Federal Reserve keeps rates steady

NEW YORK — U.S. stocks are holding onto most of their gains for the day after the Federal Reserve held its main interest rate steady. The S&P 500 was 0.9% higher Wednesday afternoon after rising as much as 1.3% earlier following a surprisingly encouraging report on inflation. The Dow Jones Industrial Average was close to flat, while the Nasdaq composite was up 1.6%.

For Wall Street, a slowdown in inflation not only helps U.S. households struggling to keep up with fast-rising prices, it also opens the door for the Federal Reserve to cut its main interest rate. Such a move would ease pressure on the economy and give a boost to investment prices. “This is good news, but we will need more of it,” according to Lindsay Rosner, head of multi-sector investing within Goldman Sachs Asset Management.

That had areas of the stock market that tend to benefit most from lower interest rates doing the best amid a widespread rally. Lower interest rates could also pull down mortgage rates and inject energy into the housing market. Homebuilder D.R. Horton climbed 4.8%.

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Stock market today: Asian stocks trade mixed after Wall Street logs modest gainsTOKYO (AP) — Asian shares traded mixed Wednesday, as investors weighed recent data highlighting a slowing U.S. economy that offers both upsides and downsides...
Herkunft: YahooFinanceCA - 🏆 47. / 63 Weiterlesen »

Stock market today: Asian shares start June with big gains following Wall St rallyAsian shares began June with big gains on Monday after a report showing that inflation in the U.S. is not worsening drove a rally on Wall Street.
Herkunft: YahooFinanceCA - 🏆 47. / 63 Weiterlesen »

Stock market today: Wall Street wilts to trim its May gains as bond yields keep risingNEW YORK (AP) — U.S. stocks closed lower under the weight of higher yields in the bond market. The S&P 500 fell 0.7% Wednesday, sinking further from its record set last week. The Dow Jones Industrial Average lost 1.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »

Stock market today: Wall Street pulls back, trimming its gains for MayNEW YORK (AP) — Stocks are pulling back and trimming their gains for May. The S&P 500 was 0.8% lower in early trading Wednesday and edging further below its record set last week.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »

Stock market today: Wall Street opens higher, adding to gains for MayNEW YORK (AP) — Stocks are opening slightly higher on Wall Street, putting the market a bit closer to the record high it set in late March. The S&P 500 edged up 0.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »