Wall Street Mixed, Issuer Earnings in the Spotlight
US stocks traded mixed on Thursday (January 29th), as investors digested a wave of quarterly performance reports, including from tech giants.
At 9:35 a.m. Washington time, the Dow Jones Industrial Average rose around 190 points (+0.4%), the S&P 500 remained flat, while the Nasdaq Composite Index fell around 0.4%. The day before, the S&P 500 briefly broke through the psychological 7,000 level for the first time.
From a policy perspective, the Fed's decision to hold interest rates on hold also provided an anchor for the market. The US central bank held interest rates in the 3.50%–3.75% range on Wednesday, marking the first pause after three consecutive cuts. This decision met market expectations and shifted investor focus to other factors—particularly issuer performance.
In its statement, the Fed highlighted persistently high inflation amid solid economic growth and a stabilizing labor market. However, the central bank hasn't provided many clues about when the next rate cut will begin, so market participants are likely waiting for further signals from economic data and corporate earnings.
Source: Newsmaker.id
