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<US>DJIA Soars 284 Pts at Close; Fed Holds Rates, but Warns of Rising Econ Risks
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The Federal Reserve held rates steady as expected, while warning of rising economic slowdown and inflation risks. U.S. stocks end slightly higher Wednesday after choppiness. The DJIA shot up 284 points or 0.7%, closing at 41,113. The Nasdaq gained 48 points or 0.3%, resting at 17,738. The S&P 500 hiked 24 points or 0.4%, finishing at 5,631. Disney (DIS.US) surged 10.8% at close, becoming the best DJIA constituent, pampered by stronger-than-expected 2Q earnings and revenue, unexpected subscriber growth for Disney+, and an announcement to build a seventh theme park and resort in the UAE. Apple (AAPL.US) sagged over 1% after revealing plans to upgrade Safari with an AI-powered search engine. Alphabet (GOOG.US), the parent of Google, slid 7.5%. In the chip sector, Nvidia (NVDA.US) rallied 3% following reports that the Trump administration plans to remove AI chip export restrictions from the Biden era. AAStocks Financial News |
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