Fed Meeting Starts Today U.S. Stocks are Mixed

The Federal Reserve Bank of America (Fed) is holding a two-day interest rate meeting today, and the US stock market opened on Tuesday (2nd) mixed. Before the deadline, the Dow Jones Industrial Average fluctuated in the flat, with the Nasdaq Composite Index up 0.1%, the S&P 500 Index up 0.15%, and the Philadelphia Semiconductor Index up 0.7%.

After the central banks of Canada and Australia hinted at early interest rate hikes, the market’s focus turned to today’s Fed interest rate meeting. It is expected that the Fed will announce on Wednesday (3rd) the start of debt reduction and maintain interest rates unchanged.

Although inflation has intensified market concerns, supported by the strong corporate earnings season, the three major indexes closed at a record high yesterday, and the Dow Jones briefly rushed to the 36,000-point barrier in intraday trading.

Earnings news, Pfizer (PFE-US) announced on Tuesday that its latest earnings report performed well and raised its vaccine sales forecast for the whole year. The opening rose 3.7%; Under Armour (UAA-US) Q3 adjusted EPS doubled the market expectation and raised the whole year Financial estimates, the opening rose 15%.

Before the deadline, the 10-year U.S. Treasury bond yield fell to 1.559%, and the U.S. dollar index remained stable.

In other stock news, DuPont (DD-US) opened up 4.55%. The company will spend US$5.2 billion to acquire engineering materials supplier Rogers (ROG-US) and consider splitting or selling its transportation and materials business.

Because Musk emphasized that he has not signed any contract with Hertz, and the news about tens of thousands of electric vehicles called for repairs, Tesla (TSLA-US) fell more than 4% at the opening. Since attacking the Zhaoyuan market value club last week, Tesla has risen nearly 18%.

The Dow Jones Industrial Average rose 10.31 points, or 0.03%, to 35,924.15 points temporarily
The Nasdaq Composite Index rose 15.96 points, or 0.10%, to 15611.87 points temporarily
The S&P 500 Index rose 7.05 points or 0.15%, temporarily reporting 4,620.72 points
Fees rose by 23.73 points, or 0.69%, to 3530.34 points temporarily
TSMC ADR rose 0.14% to $114.28 per share
The 10-year U.S. Treasury yield fell to 1.559%
New York Light Crude Oil fell 0.75% to US$83.42 per barrel
Brent crude oil fell 0.66% to US$84.15 per barrel
Gold fell 0.16% to $1,793.00 per ounce
The dollar index rose to 93.895

Reviewer overview

Fed Meeting Starts Today U.S. Stocks are Mixed - /10

Summary

The Federal Reserve Bank of America (Fed) is holding a two-day interest rate meeting today, and the US stock market opened on Tuesday (2nd) mixed.

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