The market opened slightly higher on Wednesday as investors closely watch for the Federal Reserve’s latest policy decision and a congressional hearing on antitrust in Big Tech later in the day.The Dow Jones Industrial Average was up 0.1%, nearly 50 points, at Wednesday’s open, while the S&P 500 rose 0.4% and the tech-heavy Nasdaq Composite gained 0.8%.
The Federal Reserve, which concludes its two-day policy meeting on Wednesday, is expected to keep interest rates unchanged at near zero to continue to support the economy through the coronavirus pandemic. The CEOs of Amazon, Apple, Facebook and Google-parent Alphabet are set to testify before the House Antitrust Subcommittee later on Wednesday, which may give investors insight into how Big Tech companies are handling challenges from regulators.
While Big Tech companies are among the best-performing stocks so far this year, there are rising concerns on Wall Street thatThe busiest week of the second quarter earnings season continued, with shares of General Electric, Advanced Micro Devices, General Motors and Shopify all rising after the companies reported better-than-expected results.
Boeing and Starbucks, meanwhile, posted wider-than-expected losses last quarter, but both stocks traded higher heading into the market open.Investors also continued to assess the latest coronavirus relief bill unveiled by Senate Republicans late on Monday, titled the Heath, Economic Assistance, Liability Protection and Schools Act. The GOP proposal for the next round of federal coronavirus aid
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