“The stock market soars as tech stocks surge to new heights, signaling investor confidence after the Federal Reserve’s decision to maintain interest rates, setting the stage for a potential tech revolution.”
US stocks saw a significant increase on Wednesday as the Federal Reserve voted to hold interest rates at their highest range in 22 years. The S&P 500, Dow Jones Industrial Average, and Nasdaq all experienced gains. The Fed’s decision to maintain rates at 5.25%-5.50% reflects its cautious approach to the economy and its desire to assess the impact of its previous rate hikes. This news led to a shift in bets on future rate hikes, with investors now pricing in a 73% chance that rates will remain steady through January. Treasury yields also edged lower, with the 10-year yield trading below 4.8%. The Fed’s decision and comments from Fed Chair Jerome Powell suggest that the central bank may be done hiking rates, providing a positive outlook for the stock market.