WEN - US Stocks On Track For Solid Start Amid Lingering Fed Optimism: Traders Eye Earnings From Market Bellwether Apple | Benzinga
After the Federal Reserve‘s decision, the stock market rally is poised to gain momentum on Thursday, with stock futures indicating an uptick. Positive earnings reports may bolster this rally, and the decline in bond yields, driven by rising rate-cut expectations, could be viewed favorably by investors. Additionally, traders will be monitoring job market data ahead of Friday’s crucial non-farm payrolls report for September. Apple, Inc.‘s (NASDAQ:AAPL) fourth-quarter earnings report is expected to be the day’s focal point, although it won’t be released until after the market closes.
Cues From Wednesday’s Trading:
On Wednesday, U.S. stocks made solid gains following the Fed’s anticipated decision to pause. Chair Jerome Powell‘s post-meeting press conference comments, highlighting progress in managing inflation and inflation expectations, provided encouragement to traders.
At the market open, there was divergence among major averages, with the Nasdaq Composite and S&P 500 opening higher, while the Dow Industrials began lower. As the morning progressed, all averages moved higher, consolidating their gains. Powell’s remarks on inflation bolstered buying interest, leading to further advances before the closing bell.
The Nasdaq Composite surpassed the 13,000-point mark, enjoying a four-day winning streak, while the S&P 500 and Dow Industrials extended their gains for a third consecutive day.
Small-cap stocks experienced volatility, spending most of the session trading below the break-even point before recovering in late trading.
US Index Performance On Wednesday