Stocks close with gains, led by Dow as investors look for rate insight

NEW YORK, March 27 - U.S. stocks were higher on Wednesday, with the Dow leading gains and the S&P 500 setting a closing record, paced drugmaker Merck, while investors looked towards the next piece of inflation data and Federal Reserve commentary for signals on the rate path.

The Fed kept its projections for three rate cuts this year intact at its policy meeting last week, which central bank officials have largely stood by this week in comments. "The real challenge for Fed officials has been massaging and guiding market expectations when they swing too far in one direction or another."

Traders see a 70.4% chance the Fed will begin its easing cycle in June, according to the CME FedWatch Tool, opens new tab. On the down side, GameStop , opens new tab, plunged 15.03% after the videogame retailer reported lower fourth-quarter revenue and said it had cut an unspecified number of jobs to reduce costs.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

U.S. industrial stocks in the wake of Dow’s record high and sector surgeWe are looking for U.S. industrial stocks that appear compelling from quantitative, trend-following and earnings-growth perspectives
Source: globebusiness - 🏆 31. / 66 Read more »

Asian Stocks to Echo US Gains on Fed Rate Signals: Markets Wrap(Bloomberg) -- Asian equities were primed to rally Thursday after US stocks touched fresh highs as the Federal Reserve indicated it would meet market...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Asia Stocks Eye Early Gains Into China Policy Week: Markets WrapAsia stocks are expected to see early gains as investors anticipate China's policy week. Meanwhile, the $1.5 trillion 'ESG' debt market is losing clients. US reactor fuel makers receive $2 billion in funding.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Broadening U.S. market rally gets boost from dovish FedInvestors are looking beyond the massive growth and technology stocks that have fueled gains
Source: globeandmail - 🏆 5. / 92 Read more »

Fintech stocks PayPal, Block rising ahead of the closeFintech stock PayPal (PYPL) ticks higher before Wednesday's market close, following positive comments from their Chief Financial Officer Jamie Miller. The...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »