Yahoo Finance Stocks - Wall Street Mixed as All Eyes Turn to Fed
Investing.com - Wall Street was mixed on Thursday as investors looked ahead to the Federal Reserve statement later in the day.
The S&P 500 fell 4 points, or 0.16%, to 2,809.38 as of 9:43 AM ET (14:43 GMT), while the Dow increased 3 points, or 0.01%, to 26,184.01 and the tech-heavy Nasdaq Composite was down 42 points, or 0.56%, to 7,528.12.
While the Fed is not expected to increase rates, traders will look for any new signs of the central bank's plans for hikes in December and beyond.
The Fed releases its statement at 2:00 PM ET (19:00 GMT) and is likely to indicate economic growth will keep it on track for one more rate hike before the end of the year.
Data showing that the jobless claims fell in line with expectations, but still in territory consistent with a strong labor market, is likely to support a rate hike. The chance of a price increase in December is priced in around 77.6%, according to Investing.com’s Fed Rate Monitor Tool.
Tesla (NASDAQ:TSLA) was among the top gainers in trading, rising 1.84% after the company announced that board member Robyn Denholm will replace Elon Musk as its chair. Intel (NASDAQ:INTC) rose 0.18%, while Walt Disney (NYSE:DIS) inched up 0.25% ahead of its earnings release after the closing bell.
Elsewhere, Roku (NASDAQ:ROKU) plunged 16.58% after the company forecast a surprise loss for the holiday quarter. Tilray (NASDAQ:TLRY) was down 5.62% after reports that Canada was facing a marijuana shortage just three weeks after legalizing the drug, while Facebook (NASDAQ:FB) fell 2% and Apple (NASDAQ:AAPL) inched down 0.31%.
In commodities, gold futures fell 0.07% to $1,225.40 a troy ounce, while crude oil futures declined 0.66% to $61.26 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.15% to 95.95.
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