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US stocks were a mixed bag on Wednesday as investors digested commentary from the Federal Reserve chair Jerome Powell after the central bank held interest rates steady at its latest policy meeting.
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US stocks closed in a sea of red on Tuesday to close Wall Street's worst month of 2024, as new labor data came in hotter than expected while investors await the Federal Reserve's upcoming interest rate decision and digest strong earnings from Amazon.
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Stocks closed higher on Monday to kick off a big week filled with a Federal Reserve rate decision, the monthly jobs report, and earnings from more "Magnificent Seven" tech heavyweights.
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Stocks rebounded as tech earnings spawned a rally in markets despite growing concerns that the Fed will hold interest rates higher for longer.
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US stocks bounced back on Friday as Alphabet and Microsoft earnings revived hopes for a sustained Big Tech-led rally, even as a reading on the Federal Reserve's preferred inflation gauge showed price pressures remain sticky.
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Stocks fell on Thursday after a sharply lower-than-expected reading on US GDP for the first quarter ratcheted up questions about the health of the US economy in the face of persistently high interest rates. Meanwhile, Meta's revenue forecast rattled tech investors eyeing the next high-stakes megacap earnings.
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