Stock market today: Asia shares rise amid Bank of Japan focus after the Fed stands patWednesday on Wall Street, the S&P 500 added 0.9% to its all-time high set a day earlier, closing at 5,421.03. The Nasdaq composite also built on its own record and jumped 1.5% to 17,608.44. The Dow Jones Industrial Average lagged the market with a dip of 0.1% to 38,712.21.
Policymakers welcomed the latest update on inflation, but “we’ll need to see more good data to bolster our confidence,” Fed Chair Jerome Powell said. He repeated the Fed’s mantra that it needs an accumulation of data showing inflation is sustainably heading toward its 2% target before it lowers the federal funds rate, which is at the highest level in more than two decades.
Oracle helped lead Wall Street higher with a leap of 13.3% even though it reported weaker profit for the latest quarter than analysts expected. Financial analysts pointed to strong bookings, including contracts related to artificial-intelligence training.
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