Fed Pauses by Keeping Rates Unchanged... Wall Street Closes Higher

Here is a look at the global market trends.

Let us start with the New York stock market.

The three major U.S. stock indices closed slightly higher across the board.

In particular, the Nasdaq finished higher after showing volatility during the session, while the S&P 500 reclaimed the 7,700 level for the first time in four trading sessions.

By sector, technology stocks led the gains by rising nearly 1%, while the energy and healthcare sectors also showed concurrent strength.

The market experienced significant volatility today around the announcement of the Fed's October FOMC results.

The Federal Reserve kept its benchmark interest rate unchanged in the range of 3.75% to 4%, taking a breather in its monetary policy.

However, while maintaining vigilance against inflation, some members argued for a rate hike, causing Treasury yields to spike temporarily and the stock market to fluctuate.

Tension in the market eased somewhat after Fed Chair Kevin Warsh stated during a press conference that monetary policy decisions will be made prudently while thoroughly checking future economic indicators.

Next, let us look at the U.S. futures market.

As market attention shifted back to corporate earnings following the Fed's rate freeze, the strength in semiconductor stocks and mixed assessments of big tech earnings are also influencing the futures market.

Stock index futures are showing mixed movements.

Dow futures are up 11 points, hovering around the 52,700 level, while Nasdaq 100 futures are posting the largest decline, dropping 266 points to trade around the 29,700 level.

S&P 500 futures are also down 28 points, hovering around the 7,700 level.

Russell 2000 futures are up 7 points, recording the 2,800 level.

Although the Fed kept rates unchanged, two members argued for a hike, highlighting the possibility of prolonged tightening.

Overnight, the 2-year Treasury yield fell while the 10-year yield rose, widening the yield curve spread between short- and long-term rates.

Meanwhile, the 10-year U.S. Treasury note futures are recording 5.018%.

Crude oil futures are trading around the 102 dollars per barrel mark.

Amid heightened military tensions in the Middle East, concerns over disruptions in oil supplies continue following an attack targeting a petroleum facility in Saudi Arabia.

Finally, here is the performance of major U.S. stock futures by individual company.

Assessments of big tech earnings announced after the market close were mixed.

Microsoft surged over 4% in after-hours trading on strong cloud business performance, whereas Alphabet plummeted 7% due to net income missing market expectations.

Microsoft futures are rising by nearly 6%, while Alphabet futures are plunging by the 10% range.

That concludes our look at the CME futures market.
※ Please note: This article was translated by AI and may contain errors.