FactSnap
Back to article list
EconomyVerifiedUnited States

United States

English original

Global stocks retain gains after Fed holds rates steady

Global stocks held gains Wednesday after the Federal Reserve left rates unchanged, while traders awaited earnings from Microsoft and Alphabet.

FactSnap
Close-up of an ASX electronic stock quotation board showing red and green prices and reflections on the screen.
An ASX stock quotation board provides context for global markets; the displayed prices do not represent the U.S. index figures reported in this article.

Global stocks held onto gains Wednesday after the Federal Reserve kept interest rates unchanged, as expected. Traders were also waiting for earnings from Microsoft and Alphabet, two major companies in the AI investment boom.

The US central bank voted 10-2 to maintain its benchmark interest rate in the existing range of 3.75% to 4.00%.

On Wall Street, the Dow Jones Industrial Average gained 91.54 points, or 0.17%, to 52,469.11. The S&P 500 rose 5.42 points, or 0.08%, to 7,728.60, while the Nasdaq Composite fell 43.31 points, or 0.16%, to 26,434.50.

Alphabet and Microsoft were due to release earnings after the market close. Investors were looking for changes in capital spending and evidence that returns could justify the high costs of building AI infrastructure.