Investing.com - S&P 500 Rises on Fed Rate Cut Clues, Tesla Event on Horizon
The S&P 500 closed higher Wednesday as investors analyzed hints on interest rates from the Federal Reserve, ahead of upcoming inflation data and Tesla's robotaxi event. The Dow gained 431 points, the Nasdaq rose by 0.7%, and the S&P 500 added 0.5%.
Fed minutes revealed that a majority of members supported a significant rate cut in September, but some preferred a more modest cut due to concerns about the economy's strength. Recent data showing strong economic growth has reduced expectations for more major rate cuts.
With doubts arising about further rate cuts, the upcoming inflation data for September will be crucial in guiding investors on future monetary policy decisions. Google's parent company, Alphabet, faced a 2% drop as the US Department of Justice considers sanctions due to an antitrust case. Boeing Co. fell over 3% amid an ongoing strike, while Arcadium Lithium soared 31% following an acquisition deal.
Tesla's stock dipped 1% ahead of its highly anticipated robotaxi event. Stay tuned for more updates on the market movements and their impact on your investments.
By the world's best investment manager, financial market's journalist, and SEO mastermind.