Home » Business » Wall Street awaiting news on interest rates – 2024-05-05 21:46:07

Wall Street awaiting news on interest rates – 2024-05-05 21:46:07

Wall Street opened this Wednesday on mixed terrain and the Dow Jones Industrialsits main indicator, rose 0.10% to 37,855 points, with investors awaiting the decision of the Federal Reserve (Fed) on interest rates, which will be published this afternoon.

Eleven minutes after the trading floor opened, the selective S&P 500 fell 0.18% to 5,026 points, and the technological Nasdaq fell 0.04% to 15,652 points.

Analysts expect the central bank to keep interest rates stable, which are now at their highest range (5.25% – 5.5%) since 2001.

At the corporate level, Amazon shares rose more than 3% after reporting better-than-expected first-quarter profits, while the chip maker Advanced Micro Devices fell 7% after the publication of its results.

Super Micro Computer fell 15%, reporting revenue that did not exceed analyst expectations.

This morning, the notable falls of Starbuckswhich was down 15% after disappointing sales in its stores, and CVSwhich plummeted 18% after disappointing analysts with its results and cutting its profit forecasts.

By sector, losses predominated, led by essential goods (-0.67%) and energy (-0.53%), while raw materials (0.61%) and goods opened in green. non-essential (0.48%).

Among the Dow 30 companies, the increases in Amazon (3,22 %) y Johnson & Johnson (2.67%), and the losses of Nike (-1,2 %) y McDonald’s (-0,84 %). EFE (I)

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