Wall Street opens higher ahead of Fed decision

Wednesday, 30. October 2019 14:30

Stock markets in the United States opened with moderate gains on Wednesday as the Federal Reserve is set to announce its interest rate decision. The Fed is largely expected to slash rates by 25 basis points in what would be its third rate cut this year.

Meanwhile, fresh economic data was in focus as well, as the US GDP grew 1.9% in the third quarter and private payrolls increased more than expected. On the earnings front, tech giants Apple and Facebook will report quarterly results after the closing bell today.

The Dow Jones was up 0.14% at the open, while the S&P 500 added 0.09% as General Electric surged over 8%. The Nasdaq 100 rose 0.12% with Biogen, Netflix and Blizzard leading the gains.

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Author:
Breaking the News / JC