Stock market today (April 30, 2024): Asian shares mostly rise to start a week full of earnings, Fed meeting

Asian shares mostly rose Tuesday, as investors kept their eyes on potentially market-moving reports expected later this week.

On Wall Street, the S&P 500 rose 16.21 points, or 0.3%, to 5,116.17, coming off its best week since November. The Dow Jones Industrial Average added 146.43, or 0.4%, to 38,386.09, and the Nasdaq composite gained 55.18, or 0.3%, to 15,983.08. The stock market will need such strength following a shaky April. The S&P 500 fell as much as 5.5% during the month as signals of When the Federal Reserve announces its latest policy decision Wednesday, no one expects it to move its main interest rate, which is at its highest level since 2001. Instead, the hope is that the central bank could offer some clues about when the first cut to rates could come.

But Fed Chair Jerome Powell could offer more color in his news conference following the central bank’s decision. He suggested earlier this month that rates may stay high for longer because the Fed is waiting for more evidence that inflation is heading sustainably down toward its 2% target.

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