US Stock Market Performance Analysis: Key Highlights from Wednesday’s Trading, 5/1/2024
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- U.S. stocks ended mixed on Wednesday, following remarks from the Federal Reserve’s head indicating that the much-anticipated interest rate cuts are still likely, albeit delayed due to persistent high inflation.
- The S&P 500 dipped by 0.3% after a significant afternoon rally fizzled out, while the Dow Jones Industrial Average rose by 0.2%, and the Nasdaq composite dropped by 0.3%.
- Despite the market’s downturn, the Fed’s chair expressed that inflation control is taking longer than anticipated, but the next move is unlikely to be a rate hike, and measures to stabilize the bond market have been announced.
Following the Federal Reserve’s announcement of likely interest rate cuts, U.S. stocks ended mixed. Despite high inflation, the Fed’s chair assures that the next move will not be a rate hike.
Federal Reserve’s Announcement Impacts Stock Market
The U.S. stock market experienced a mixed day on Wednesday, following the Federal Reserve’s announcement. The head of the Federal Reserve indicated that the much-anticipated interest rate cuts are still likely, despite being delayed due to persistent high inflation. This news led to the S&P 500 dipping by 0.3% after a significant afternoon rally fizzled out. ... Read the full article for FREE at COINOTAG!
