US EditionWall Street Ends up as Traders Turn to Fed
Airlines raised revenue forecasts and energy firms rose amid crude near $100 a barrel; S&P 500 advanced with gains in eight of 11 sectors, data showed.
- On March 17, Wall Street ended higher as the Federal Reserve began its two-day policy meeting, with the S&P 500 climbing 0.25% to 6,716.09 and the Nasdaq and Dow Jones also rising.
- Airlines rallied after carriers raised guidance as Delta and American lifted shares by over 6% and 3.5% raising current quarter revenue guidance, while crude oil near $100 a barrel supported energy stocks amid Strait of Hormuz concerns.
- Advancing issues outnumbered decliners by about a 1.7-to-one ratio, with the energy sector up 1.02% and consumer discretionary sector rising 1%, while asset managers Blackstone, Apollo Global and KKR gained 4.6%, 5.3% and 3.3%.
- Traders expect the Fed to hold rates on March 18, while rate futures imply one 25-basis-point cut toward year-end amid oil-price risks and weakening jobs market signals.
- The Reserve Bank of Australia hiked rates and warned of inflation risks from the Middle East war, while Honeywell said the conflict could affect first-quarter revenue and Uber rallied 4.2% after plans to roll out robotaxis in 28 cities next year, powered by Nvidia.
12 Articles
12 Articles
The futures of Wall Street operated upwards on Wednesday, on a day marked by the fall in oil prices and investors' expectation of the Federal Reserve's monetary policy decision.The shares grouped in the MSCI World index rose 0.28%, while the Eurostoxx 600 European index showed an increase of 0.58%.The contracts linked to the Dow Jones rose 240 points, or 0.5%, while the futures of the S&P 500 advanced 0.5% and those of the Nasdaq 100 earned 0.7%…
US Stock Market | Wall Street ends up as traders turn to Fed
Wall Street closed higher as travel stocks rebounded, with Delta Air Lines raising revenue guidance. Investors watched the Federal Reserve's policy meeting amid concerns over high oil prices and the Middle East conflict. Policymakers are weighing inflation against a weakening jobs market, with expectations of unchanged interest rates.
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