NEW YORK — U.S. stocks are mixed Wednesday after the Federal Reserve said it may not cut interest rates next year by as much as it earlier thought, regardless of how much Wall Street wants it.
Treasury yields in the bond market immediately turned higher after the Fed released its projections. They had already been climbing for months after strong reports on the U.S. economy suggested the Fed may need to keep interest rates higher for longer in order to fully drive down pressures on inflation.
Investors crave cuts to interest rates because they give an immediate boost to prices of all kinds of investments. Some of the biggest beneficiaries tend to be high-growth companies, and tech stocks have swung particularly sharply with expectations for rates. Pinterest rose 5.5% after the company gave forecasts and recaps of its decisions at its investor day that pushed analysts to upgrade how high they think its stock could go.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: Wall Street stays mixed, bond yields spike after Fed updates rate outlookNEW YORK (AP) — Stocks was mixed and Treasury yields snapped higher after the Federal Reserve pulled back on its estimates of how much it expected to cut interest rates next year.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street drifts ahead of Fed's next meeting on interest ratesNEW YORK (AP) — U.S. stocks edged higher as Wall Street makes few big moves in advance of the Federal Reserve’s next meeting on interest rates. The S&P 500 closed virtually unchanged Monday.
Source: SooToday - 🏆 8. / 85 Read more »
Stock market today: Wall Street drifts again ahead of Fed decision on ratesNEW YORK (AP) — Stocks are drifting again as Wall Street waits for the Federal Reserve’s latest decision on interest rates. The S&P 500 was off 0.2% early Tuesday. The Dow slipped 37 points and the Nasdaq composite was down 0.4%.
Source: SooToday - 🏆 8. / 85 Read more »
Stock futures step higher as markets wait for Fed: Stock market news todayWall Street stocks set up for a higher open as investors focus on what the Fed plans for the future.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Wall Street drifts again in the countdown to a Federal Reserve announcementNEW YORK (AP) — Stocks are ticking higher as Wall Street waits to see the Federal Reserve’s latest forecasts for where interest rates may be heading. The S&P 500 was up 0.
Source: SooToday - 🏆 8. / 85 Read more »