Quiet US stock market ahead of major quarterly reports

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Quiet US stock market ahead of major quarterly reports
Photo: Richard Drew/AP/TT

An interest rate announcement from the central bank surprised few investors; the wait for major quarterly reports took over, and price movements on the New York Stock Exchange were small.

The Dow Jones industrial average and broad-based S&P 500 index closed unchanged, while the tech-heavy Nasdaq composite index rose 0.2 percent.

In the evening, the Federal Reserve (Fed) clarified that the key interest rate would be left unchanged in the range of 3.50 - 3.75 percent - which was expected and stock market reactions were non-existent.

Instead, the market slipped further into wait-and-see mode. After the market close, quarterly reports are to be released by software giant Microsoft, Facebook owner Meta, and electric car manufacturer Tesla.

They are heavyweights, holding positions four, seven, and ten on the list of the world's most valuable listed companies.

Ahead of the reports, Microsoft closed up 0.2 percent while Tesla and Meta fell 0.1 percent and 0.6 percent, respectively.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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