Wall St gains in choppy trading ahead of Fed rate verdict

wall-st-gains-in-choppy-trading-ahead-of-fed-rate-verdict
Wall St gains in choppy trading ahead of Fed rate verdict

Wall Street’s main indexes experienced a rise on Monday, with energy stocks leading the way due to higher crude oil prices. Investors were also eagerly awaiting the Federal Reserve’s interest rate decision later in the week. The consumer discretionary sector, however, took a hit, with Tesla and VF Corp experiencing declines. Major growth names like Microsoft and Amazon.com also saw slight decreases. Investors were cautious and waiting for the Fed’s updates on rates and future direction. Traders generally expected the Fed to keep rates unchanged during its meeting. Goldman Sachs and other big investors anticipated the central bank to lift its economic growth projections but believed that rates had peaked. Arm Holdings, which had a successful debut, dropped after receiving an “underperform” rating. Concerns over weak demand and a slide in megacap growth stocks had caused a decline in the S&P 500, Nasdaq, and Dow on Friday. However, chipmaker Micron Technology and L3Harris Technologies experienced gains after upgrades, while PayPal Holdings saw a decrease after a downgrade. Overall, declining issues slightly outnumbered advancers on the NYSE and Nasdaq. The S&P index recorded new highs and lows, as did the Nasdaq.

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Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

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