U.S. stocks ended higher on Wednesday after the Federal Reserve left its benchmark interest rate unchanged near zero. The Dow Jones Industrial Average rose 160.29 points, or 0.61%, to 26,539.57. The S&P 500 added 40.00 points, or 1.24%, to 3,258.44. The Nasdaq Composite advanced 140.85 points, or 1.35%, to 10,542.94.
Oil futures ended higher Wednesday after U.S. government data showed a more-than-10-million-barrel weekly decline in U.S. crude — the largest so far this year. West Texas Intermediate crude for September delivery rose 23 cents, or 0.6%, to settle at $41.27 a barrel. September Brent crude climbed 53 cents, or 1.2%, to close at $43.75 a barrel.
The Federal Reserve on Wednesday maintained interest rates at near-zero, noting that economic activity and employment have “picked up somewhat in recent months” but cautioned that the coronavirus needs to be contained in order to have faith in a rebound.
Qualcomm Inc (QCOM) on Wednesday forecast fourth-quarter revenue largely above Wall Street expectation. It expects current-quarter adjusted revenue of between $5.5 billion and $6.3 billion.
Leave a Reply
You must be logged in to post a comment.