RCKY - Dow Jumps 200 Points Following Fed Decision; Pfizer Earnings Top Estimates | Benzinga
U.S. stocks traded higher toward the end of trading, with the Dow Jones index gaining over 200 points on Wednesday. The Federal Reserve opted to keep the federal funds rate unchanged at 5.25% to 5.5%, as widely expected.
The Dow traded up 0.55% to 38,022.21 while the NASDAQ rose 0.19% to 15,687.08. The S&P 500 also rose, gaining, 0.08% to 5,039.51.
Leading and Lagging Sectors
Utilities shares rose by 1.2% on Wednesday.
In trading on Wednesday, energy shares fell by 1.6%.
Top Headline
Pfizer Inc. (NYSE:PFE) reported better-than-expected first-quarter financial results.
Pfizer reported first-quarter adjusted EPS of 82 cents, down 33% year over year, beating the consensus of 54 cents. The U.S. drugmaker reported sales of $14.9 billion, down 20%, beating the consensus of $14.2 billion.
The company expects adjusted EPS of $2.15-$2.35 in 2024 compared with a prior forecast of $2.05 to $2.25 and the consensus of $2.76.
Equities Trading UP
- CytomX Therapeutics, Inc. (NASDAQ:CTMX) shares shot ...