US STOCK MARKET NEWS: DOW JONES ENDS IN GREEN BUT NASDAQ, S&P 500 FINISH LOWER AFTER FED RATE DECISION

US Market News: US stocks closed mixed on Wednesday after the Federal Reserve left key interest rate unchanged on expected lines.

The Dow Jones Industrial Average notched a modest gain while the S&P 500 and the Nasdaq ended lower. Dow climbed 87.37 points or 0.23 per cent to close at 37,903.29. Tech heavyweight Nasdaq Composite dropped 52.34 points or 0.33 per cent to settle at 15,605.48.

The S&P 500 index lost 17.3 points or 0.34 per cent to end at 5,018.39. Of the 11 major sectors in the S&P 500, energy shares recorded the largest percentage loss, while utilities led the gainers.

Fed Meeting Outcome

The Federal Open Markets Committee concluded its two-day monetary policy meeting on Wednesday with a unanimous decision to keep the key interest rate unchanged. It indicated that its next move will likely be a rate cut. Notably, the benchmark policy rate currently stands in the range of 5.25%-5.50%.

2024-05-02T02:09:11Z dg43tfdfdgfd