Key Points
- U.S. stocks were flat on Wednesday as investors awaited major news. The Federal Reserve is expected to announce its interest rate decision.
- New data showed the U.S. economy and job market remain strong.
- Tech giants Microsoft and Meta are set to report earnings after the market closes.
- A Friday deadline for President Trump’s trade deals is adding to the market uncertainty.
U.S. stocks held steady on Wednesday as investors braced for a packed day of market-moving events. All eyes are on the Federal Reserve’s interest rate decision, a flood of economic data, and crucial earnings reports from tech giants Microsoft and Meta.
As of the 1:11 PM (ET) market update, the S&P 500 has risen to 6,383.36 USD, marking a gain of 0.20%. The Nasdaq 100 shows a stronger performance, climbing 0.35% to reach 23,390.89 USD, indicating continued momentum in technology and growth stocks. Meanwhile, the Dow 30 has edged up slightly by 0.02%, standing at 44,644.12 USD.
The market is in a holding pattern ahead of the Fed’s announcement, which is expected at 2 PM (ET). While the central bank is widely expected to keep rates steady, investors will be closely watching for any hints about potential rate cuts later this year, especially as President Trump continues to push for one.
Early Wednesday, new data showed the U.S. economy grew at a solid 3% annual rate in the second quarter, and private employers added more jobs than expected in July. The strong data prompted Trump to again call on the Fed to lower rates.
On the corporate front, investors are looking to after-hours earnings reports from Microsoft and Meta to provide a spark. As the first of the “Magnificent 7” tech giants to report, their results will be closely watched to see if their massive investments in AI are paying off.
Looming in the background is President Trump’s Friday deadline for trade partners to strike deals or face new tariffs. Trump has already announced that goods from India will face a 25% tariff starting Friday, and there is still no final word on an extension of the trade truce with China.
