By Lawrence Delevingne and Amanda Cooper BOSTON/LONDON (Reuters) -Wall Street shares advanced on Thursday as investors cheered updates from Meta and Tesla , while gold hit a record and the U.S. dollar advanced on potential tariffs.
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Tesla, IBM and Meta lead most of Wall Street higher
Tech sector to lead Wall Street higher as Meta, IBM and Tesla shares rise after results
S&P 500 futures are up 0.5%. Dow Jones Industrial Average futures are gaining 0.4%. Nasdaq 100 futures are rising 0.7%. On Wednesday, the Dow Jones Industrial Average fell 137 points, or 0.31%, to 44,
Stock Market Today: Major Indexes Rise; Meta and Tesla Shares Rally
Meta and Tesla shares rally. Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.
Wall Street are pointing mostly higher in premarket trading while more corporate earnings poured in a day after the Federal Reserve opted to leave its benchmark lending rate alone
Wall Street futures rose with gains from tech giants like Meta and Tesla after the Federal Reserve paused its rate-cutting cycle. Meta and Tesla's positive reports contrasted with Microsoft's disappointing cloud forecast.
However, the U.S. stock market could move sharply on Jan. 29 and Jan. 30 based on commentary from the Federal Reserve, and earnings results from several "Magnificent Seven" companies: Apple ( AAPL 3.65%), Meta Platforms ( META 2.19%), Microsoft ( MSFT 2.91%), and Tesla ( TSLA 0.24%). Read on for details.
The Federal Reserve is widely expected to hold its benchmark interest rate steady Wednesday, taking a pause after cutting short-term rates [by a full percentage point](
In extended trading, shares of Meta Platforms and Tesla gained nearly 2% and 5%, respectively, while Microsoft shares dipped 4% after the companies reported earnings. Both Meta and Microsoft beat on the top and bottom lines, but Tesla missed expectations.
US stocks fall after the Fed held rates steady but suggested the inflation drop has stalled. Meta, Tesla and Microsoft report earnings after the bell.
The Fed is widely expected to make no change to interest rates today, after cutting the benchmark short-term rate at every one of its last three meetings. There also won't be any quarterly economic or interest-rate projections.
U.S equity futures turned lower in early Wednesday trading, while the dollar extended gains and Treasury yields dipped, as investors looked for clarity on two key issues from today's Federal Reserve interest rate decision and fourth-quarter earnings updates from three megacap tech giants.
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