Stock rose ahead of Fed


The US equity markets merged as investors awaited the Federal Reserve’s latest policy decision.

The Dow Jones Industrial Average gained 86 points or 0.31% in the opening minutes of trading, gaining the S&P 500 and Nasdaq Composite 0.34% and 0.24%, respectively.

The Federal Reserve is widely expected to maintain interest rates and policy as it continues to monitor the rebound of the US economy from the sharpest recession in the post-World War II era.

Looking at the stock, market-going mega-cap tech stocks including Apple Inc., Amazon Inc. and Tesla Inc. traded mixed.

A CFIUS decision on Oracle Inc.’s “trusted technology partnership” with the Chinese-owned social media app TikTok is imminent.

Nicola Corp. shares were down for the fourth time in five days as investors continued a report by short-seller Hindenburg Research, accusing the electric-truck manufacturer of fraud. Nicola, who called the claims “inaccurate and misleading”, is under investigation by the US Securities and Exchange Commission.

Eli Lilly reported a mid-stage trial of his COVID-19 antibody treatment that reduced hospitalization rates for patients with mild or moderate cases.

A firm hired by the Eastman Kodak Company board of directors said that upon learning by CEO Jim Contininza to help pivot securities transactions into the production of generic drug paraphernalia in the form of a $ 765 million government debt Did not violate internal policies. The situation is being investigated by US regulators and Congress.

The Doe component Boeing Company made several mistakes in the certification of the 737 MAX aircraft, which, according to an 18-month-long investigation by the US House panel, caused two fatal accidents.

Looking at earnings, FedEx Corp. ‘S quarterly profit rose 60% to $ 4.87 per share a year earlier, boosted by a surge in online shopping due to COVID-19. The parcel delivery service said it would increase shipping rates from 4.9% to 5.9% starting January.

Looking at commodities, West Texas Intermediate crude oil rose 87 cents to $ 39.15 a barrel and RBOB gasoline rose 1.35 cents to $ 1.1516 a gallon as investors expected a slow-moving storm could cause flooding And refineries can be kept idle. Meanwhile, gold rose by $ 8.20 to $ 1,974.40 an ounce.

The US Treasury was slightly changed to 0.675% with the yield on a 10-year note.

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European markets were quiet with France’s CAC 0.12%, Germany’s Dax unchanged and Britain’s FTSE up 0.12%.

In Asia, Japan’s Nikkei rose 0.09% as Yoshihide Suga was elected Prime Minister of the country. Elsewhere in the region, Hong Kong’s Hang Seng slipped 0.03% and China’s Shanghai Composite slipped 0.36%.

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