US Stock Market Mixed Before Fed Interest Rate Announcement
The Dow Jones Industrial Average declined 0.38%, losing 179.03 points to finish Tuesday at 47,560.29, while the S&P 500 edged down 0.09%, or 6 points, to 6,840.51. Conversely, the Nasdaq rose 0.13%, gaining 30.58 points to reach 23,576.49.
Market participants are closely monitoring the Fed’s upcoming interest rate announcement, scheduled for Wednesday. Data from the CME FedWatch indicates that investors currently assign more than an 87% probability to a 25-basis-point rate reduction at this meeting. Presently, the policy rate remains within the target band of 3.75% to 4%.
US President Donald Trump responded "Yes" when asked whether backing immediate interest rate reductions would be a factor in selecting the new Fed chair.
Trump further revealed that Nvidia’s "H200" chips would be permitted for sale to approved clients in China and other nations under rules that safeguard national security.
He highlighted that the US government would secure a 25% share from this arrangement, with similar measures applied to AMD, Intel, and other major American technology firms.
Following Trump’s announcement, Nvidia shares initially climbed but later retreated after reports suggested that China might limit or block domestic companies from acquiring the chips.
Meanwhile, JPMorganChase stock dropped more than 4.6% after its consumer and community banking chief, Marianne Lake, forecasted higher-than-anticipated costs for the upcoming year.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
