The Fed held interest rates steady and said it's still expecting three rate cuts this year.Sign up for NBC LA newsletters.closed above 5,200 for the first time, ending the day up 0.89% at 5,224.62. The rallies came after the Federal Reserve interest left rates unchanged, but investors were encouraged by the Fed's projections for the rest of the year . Followon Wednesday held interest rates at a 23-year high, as expected.
Wednesday that beat analysts' expectations and offered rosy guidance. It brought in earnings per share of 42 cents adjusted versus a 25 cent loss expected by LSEG, formerly known as Refinitiv, and revenue of $5.82 billion vs. $5.35 billion expected by LSEG. Micron provides memory and flash storage for computers, phones and data centers, which are used to power the influx of new AI software.
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