Wall Street rises on upbeat earnings as Fed looms

REUTERS: U.S. stocks rose on Wednesday as a slew of positive earnings updates and hopes for assurances of continued support from the Federal Reserve overshadowed concerns about next steps for the government's coronavirus support plan.

Recent data pointed to a possible slowdown in business and hiring as several U.S. states reimposed restrictions after a spike in COVID-19 infections, while deaths in the country caused by the disease surpassed 150,000 on Wednesday.Investors will keep a close watch on how the U.S. central bank addresses these economic risks at the end of a two-day policy meeting. The Fed's statement is expected at 2 p.m. ET , which will be followed by Chair Jerome Powell's press conference.

"The longer takes, the more likely there will be a lapse in unemployment benefits and it will be an unnecessary source of uncertainty for the market and economy," Reinhart added. Boeing Co slipped 3.3per cent as it slashed production on its widebody programs and reported a bigger-than-expected loss due to the fallout from the pandemic.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

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

Wall Street rises as investors watch stimulus, pandemic and earningsNEW YORK (REUTERS) - Wall Street's main indexes closed higher on Monday (July 27) as investors bet on some of the market's most high-profile stocks ahead of earnings reports while they weighed progress in US government stimulus efforts against rising US Covid-19 cases.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Wall St. opens higher on upbeat earnings; Fed in focusREUTERS: Wall Street's main indexes opened higher on Wednesday as a slew of positive earnings updates and hopes for a dovish tone from the Federal ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US: Wall St opens higher on upbeat earnings; Fed in focus[NEW YORK] Wall Street's main indexes opened higher on Wednesday as a slew of positive earnings updates and hopes for a dovish tone from the Federal Reserve overshadowed concerns about next steps for the government's coronavirus support plan. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Wall St. set to slip on tough stimulus talks, mixed earningsU.S. stock index futures retreated on Tuesday as lawmakers geared up to debate a coronavirus relief deal to limit the economic damage from the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »