New York – Wall Street paused Wednesday, waiting to hear Fed In the afternoon, interest rates are expected to be cut for the first time.
The S&P 500 index has barely changed and has drifted on Monday’s record. As of 9:35 a.m. ET, the Dow Jones industrial average rose 211 points, or 0.5%, and the Nasdaq Complex fell 0.2%.
Workday helped the market with a 6.9% gain after Elliott Investment Management said it had established more than $2 billion in stake and supported its management. The company can help clients manage their financial and human resources, with plans to send cash to investors by buying stocks up to $4 billion.
This helps offset the 1.9% drop in General Mills. The food giant reported better profits than analysts expected, but its revenue matched the forecast only. It also said it expects investments in brands to drive growth, such as Blue Buffalo’s launch of fresh pet food that will reduce its profits in the upcoming fiscal year.
However, the main events on Wall Street will be held later in the afternoon Fed Its latest interest rate decision will be announced. The decision itself could be an afterthought, as most traders and economists expect it to lower its main interest rate by one quarter of a percentage point.
What’s more important Fed Officials say cuts are more likely. It is generally expected that it will lower interest rates this year and next to promote a slowing job market.
Reports show that it becomes more difficult for people to find a job, which may force Fed Think of it as a bigger problem to the economy, rather than a threat to higher inflation. this Fed Interest rates have been maintained so far this year, as lower rates can drive inflation higher and there have been concerns that President Donald Trump’s tariffs will raise prices across the economy. So far, inflation has refused to return to Fed 2% target.
Stocks have already held records of such expectations. Conversely, if Fed Chairman Jerome Powell hinted that cuts were cut less than everyone expected. Fed Officials will also release their forecasts to understand interest rates and inflation rates in the coming years.
On Wall Street, RCI Hospitality Holding 10.2% dropped after New York’s attorney general accused executives of bribery and other crimes avoiding paying millions of dollars in sales tax. RCI Have strip clubs and sports bars all over the country, including Rick Singing and dancing performance.
Later in the day, online ticketing market StubHub will see its stock trading on the New York Stock Exchange for the first time. Its stock will be traded in the symbol of “stub” and sold at $23.50 per share.
In foreign stock markets, the indexes in Europe and Asia are mixed together.
Japan’s Nikkei 225 data shows that Japan’s exports to the United States fell 0.2% from 13.8% a year ago as car exports were hit by Trump’s tariffs.
In the bond market, a 4.04% yield from 4.04% late Tuesday reduced the 10-year Treasury yield to 4.02%.
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AP business writers Yuri Kageyama and Matt Ott contributed.
