US Stocks Cautious Ahead of Fed
The S&P 500 edged up 0.1% and the Nasdaq gained 0.3% on Wednesday, while the Dow Jones hovered near the flatline, as investors awaited the Fed’s policy decision and assessed key economic data. The Fed is widely expected to keep the federal funds rate unchanged, with markets closely watching for guidance on the outlook for the rest of the year—especially after preliminary data showed US GDP grew at a stronger-than-expected 3% in Q2, reinforcing signs of a resilient economy.
In addition, ADP data showed the US private sector added 104K jobs in July, much higher than forecasts of 75K. On the trade front, President Trump announced a 25% tariff on India starting August 1st, with possible further penalties over Russian energy imports. Meanwhile, Microsoft and Meta are set to report quarterly results after the closing bell. Visa gained 0.8% after delivering better-than-expected results, while Starbucks fell more than 1% despite reporting stronger-than-expected revenue for its.
Source: Trading Economics