US stock indices wavered on Wednesday ahead of the Federal Reserve’s decision on interest rates later in the day and amid hopes of de-escalation in trade tensions with China.
At 11:35 AM EDT, the Dow Jones Industrial Average rose 0.52%, the S&P 500 added 0.03%, and the Nasdaq Composite fell 0.43%.
At 09:43 a.m. ET, the Dow Jones Industrial Average rose 221.20 points, or 0.54%, to 41,050.20, the S&P 500 gained 18.42 points, or 0.33%, to 5,625.33, and the Nasdaq Composite gained 43.41 points, or 0.25%, to 17,733.07.
At the opening bell, the Dow Jones Industrial Average rose 127.1 points, or 0.31%, to 40,956.08. The S&P 500 rose 7.3 points, or 0.13%, to 5,614.18, while the Nasdaq Composite rose 17.2 points, or 0.10%, to 17,706.827.
Trump administration on Tuesday said that representatives of the US and China would meet over the weekend in Switzerland for trade talks.
In the bond market, the yield on the 10-year Treasury fell to 4.29% from 4.30% late on Tuesday.
Gainers and Losers
Shares of The Walt Disney Co. soared 10.4% after the company beat Wall Street’s quarterly profit estimates and added more than a million streaming subscribers.
Super Micro Computer stock fell 4.43% after the chip company reported earnings short of forecasts.
Chipmaker Advanced Micro Devices shares surged 2.2% after the firm forecast second quarter revenue above Wall Street estimates.
Uber stock was down 2.48% after paring some losses, as the ride-hailing company missed quarterly revenue estimates.
Cybersecurity firm CrowdStrike slipped 3.9%.
Bullion
Gold prices eased more than 1% on Wednesday on a stronger US dollar.
Spot gold fell 1% to $3,395.29 an ounce as of 0957 ET (1357 GMT). US gold futures lost about 0.6% to $3,403.50.
Spot silver dropped 1.4% to $32.81 an ounce, palladium rose 0.7% to $981.03, and platinum fell 0.1% to $986.15.
Crude oil
Oil prices were steady on Wednesday as focus shift to US-China trade talks this weekend.
Brent crude futures were down 11 cents a barrel, or around 0.18%, at $62.04 a barrel by 10:07 AM ET (1407 GMT), while US West Texas Intermediate crude was also 11 cents, or 0.19%, lower at $58.98 a barrel.
Leave a Comment