Wall Street closes mixed on Fed decision

Wednesday, 28. July 2021 22:02

Major equity markets in the United States closed mixed on Wednesday following Federal Reserve's decision to leave the interest rate and asset purchases unchanged. Fed's Chair Jerome Powell assured there'd be an "advance notice" before any change implementation. As for inflation, Powell expects it to remain elevated in the coming months, but in the long-term, it seems to be consistent with the Fed's goal of 2%.

Investors have also been betting on the ongoing strong earnings season with Boeing rising up to 5.4% following positive financial results. According to market data, of the S&P 500 companies that have reported quarterly results so far, 89% have topped earnings estimates, while 86% have exceeded revenue expectations.

The Dow Jones fell by 0.36% at the closing bell with McDonald's losing 1.86%, while the S&P 500 remained flat with 0.02% in the red as Humana dropped by 5.75%. The Nasdaq 100 grew by 0.41% led by Pinduoduo gaining 15.54%. The euro advanced by 0.26% against the dollar to exchange hands for $1.18466 at 3:58 pm ET.

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