Latest Status on US Stock Markets as Fed Holds Rates Steady
Following the Federal Reserve's decision to keep interest rates steady without giving a clear signal for December, the S&P 500 index posted a 0.3% gain.
While the Federal Reserve kept interest rates steady and avoided giving a clear signal regarding a potential hike in December, stocks showed a slight upward tendency following this move.
The Federal Reserve's decision to keep interest rates steady and its omission of a clear signal regarding December hikes resonated in the markets. Following this development, the S&P 500 index gained 0.3%.
In company-specific activity, Oracle Corp. experienced a strong 11% surge driven by its long-term free cash flow outlook. Microsoft Corp. moved upward in after-hours trading with strong cloud sales. Conversely, Alphabet Inc. declined due to results that fell short of expectations, and short-term Treasury bonds appreciated.
On the other hand, the oil market rally weakened later in the day. According to a report by the Wall Street Journal, US Vice President JD Vance made contact with a hardline Iranian figure in order to revive peace talks.
Sources
- bloomberg.com · Link