US stocks hold steady ahead of Fed rate decision
NEW YORK — U.S. stocks are drifting Wednesday as the countdown ticks toward this afternoon’s announcement from the Federal Reserve on what it will do with interest rates. The S&P 500 rose 0.2 percent and pulled within 1 percent of its all-time high, which was set earlier this month. The Dow Jones Industrial Average was up 149 points, or 0.3 percent, as of 12:46 p.m. Eastern time, and the Nasdaq…
The U.S. stock market maintained its stability on Wednesday, as investors awaited the Federal Reserve's decision on interest rates. The S&P 500 index increased by 0.2%, bringing it close to its record-high level. The Dow Jones Industrial Average rose by 149 points, or 0.3%, while the Nasdaq composite remained relatively flat. The Federal Reserve's meeting will likely focus on any statements regarding future interest rate adjustments.
Although the central bank raised its key rate last month for the first time in three years to combat inflation, expectations are that they will maintain the same rate this time. Fed Chair Kevin Warsh has emphasized his preference for the Fed to provide less information about future decisions. Wall Street is closely monitoring the situation.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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