Wall Street Rises Ahead of Fed Meeting
US stocks rallied on Wednesday (January 28th), as investors awaited the Federal Reserve's interest rate decision while digesting a slew of quarterly earnings reports. At 9:32 a.m. ET (14:32 GMT), the Dow Jones Industrial Average rose 135 points, or 0.3%, the S&P 500 gained 0.3%, and the Nasdaq Composite surged 0.7%.
The market's primary focus remains on the Fed, which is widely expected to hold interest rates in its policy announcement later tonight. Market participants have already priced in a pause scenario, as recent data suggests inflation is easing—though still above target—amid relatively stable growth and a resilient labor market.
However, there are also signs that should make investors wary. US consumer confidence plunged in January to a 12-year low, according to a Conference Board survey. This reflects the pessimism felt by many Americans, amid the growing risk of a partial government shutdown due to the heated public reaction to the deadly shooting involving immigration enforcement agents in Minneapolis, coupled with the looming threat of new tariffs from President Donald Trump.
After the decision is released, attention will turn to comments from Fed Chairman Jerome Powell. The market will be looking for clues: how long interest rates will be held steady, and when the window for a cut might open.
Source: Newsmaker.id
