US Markets LIVE: Dow Jones, Nasdaq Index Today, 26 July 2023
US Markets LIVE Today 26 July 2023: The US stock markets opened lower on Wednesday ahead of the Federal Reserve interest rate decision. Dow Jones opened lower by 92.08 points at the 35345.99 level while S&P 500 made a slightly negative opening of 8.5 points at the 4558.96 level. The tech-heavy Nasdaq opened lower by 21.04 points at the 14123.52 level.
US Market News
The US stock markets are trading cautiously ahead of the Federal Reserve meeting outcome. Markets are also reacting to the mixed earnings from Microsoft and Alphabet, which were released on Tuesday post markets. The US central bank policy outcome is due at 2 pm ET followed by Fed Chairman Jerome Powell’s press conference at 2.30 p.m.
Wall Street already priced in the 25 bps rate hike in today’s meeting. Investors will closely monitor the press conference to get a clue whether this is the last hike and when the Fed members will start cutting rates.
Nasdaq is trading lower as Microsoft declined around 4% in early trade after reporting slower growth as it ramps up its artificial intelligence capabilities, while Alphabet is gaining around 6%. Boeing’s share is gaining around 6% after the company reported narrower-than-expected losses. The PacWest share jumped around 27% after the news of a deal with Banc of California.
US Markets Live Updates Today
At 12.25 EDT, Dow Jones erased all early losses and is trading marginally higher by 53.16 points or 0.15 percent at the 35491.23 level while S&P 500 is trading slightly lower by 6.19 points or 0.14 percent at 4561.27 levels. The tech-heavy Nasdaq extended its early losses and is trading lower by 54.70 points or 0.39 percent at 14089.86 levels.
Crude Oil Prices
Oil prices are trading lower after rising for the past four trading sessions, as some traders expect that the Fed will be hawkish to tame inflation, which could slow down energy demand. Brent Crude is trading lower by 0.78 percent at $82.60 per barrel, while WTI crude is down by 0.90 percent at $78.91 per barrel.
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