(Sharecast News) – Major indexes turned in a mixed performance on Wednesday as investors digested the Federal Reserve’s decision to keep interest rates unchanged overnight.
Finally, the Dow Jones Industrial Average was down 0.57% at 48,861.81, while the S&P 500 shed 0.04% to 7,135.95 and the Nasdaq Composite saw the session gain 0.04% at 24,673.24.
The Dow closed 280.12 points lower on Wednesday, extending the smallest losses recorded in the previous session after a Wall Street Journal report revealed that OpenAI recently missed internal revenue and user growth targets, weighing heavily on the technology stock.
Oil prices rose sharply on Wednesday as traders weighed the unexpected exit of the United Arab Emirates from OPEC against signs that the conflict involving Iran is unlikely to be resolved soon. Brent crude futures rose 7.96% to $120.12 a barrel, while West Texas Intermediate futures were up 6.95% at $106.88 – already up nearly 50% since the US-Israeli-led war with Iran began on February 28.
The latest move to the top follows news that Donald Trump had told aides to prepare for increased sanctions on Iran, with Axios he later announced that he had rejected Tehran’s proposal to reopen the Strait of Hormuz and would maintain the blockade of US warships until a deal is reached that addresses concerns about the Middle Eastern country’s nuclear program.
Technical gains were also firmly in focus after the shutdown, with Microsoft trading fell in after-hours action, as revenue grew 18% to $82.89bn and revenue rose from $25.82bn to $31.78bn, while parent company Google Alphabets posted first-quarter revenues that topped expectations on the back of its growing cloud business.
Amazon reported better-than-expected revenue and earnings for the quarter as cloud sales topped expectations, while shares of parent company Facebook Meta headed south in extended trading after the firm reported lower-than-expected capex and missed user growth targets.
Attention was also on the US Federal Reserve’s decision to leave interest rates unchanged, holding its federal funds rate at 3.5-3.75% in what may be Jerome Powell’s last meeting as chairman, where central bank officials continue to flag continued inflationary pressure as a major challenge.
Although the decision was widely expected, with market prices unchanged, the vote appeared unusually divided, the Federal Open Market Committee split 8-4 as policymakers differed on how to communicate an idea of future policy measures. It was the largest turnout since 1992.
Elsewhere earlier, mortgage applications fell 1.6% week-on-week in the seven days ended April 24, according to the report. the Mortgage Bankers Associationoffsetting a 7.9% jump from the previous period. Applications for mortgage refinancing, which are highly sensitive to week-to-week changes in interest rates, fell 4.4%, while applications to buy a new home came in at 1.1%.
On another note, durable goods orders also improved, rising 0.8% in March to $318.9bn after a revised 1.2% decline in February and beating forecasts for a 0.5% gain. Census Bureau he said this growth reflects robust demand for goods despite increased uncertainty related to the Iran conflict and high energy costs. Orders for computers and electronic products rose 3.7% to $29.6bn, supported by continued momentum in AI-related equipment.
Moving forward, the US goods trade deficit widened to $87.9bn in March from $83.5bn in February, according to preliminary data from the Census Bureauas exports rose 2.5% to a record $211.5bn, led by industrial goods, capital goods, food and vehicles, although exports of consumer goods fell 7.5%. Imports rose sharply by 3.3% to $299.3bn, with gains across consumer goods, industrial goods, motor vehicles, capital goods and food.
In the data, sales of goods rose for the second month, according to some preliminary readings the Census Bureaurose 1.4% to $932.8bn in March after a 0.9% increase in February and above the 0.4% expected, driven by a 3.2% jump in non-durable goods inventories, while durable goods inventories grew by 0.3%. Inventories increased by 2.9% year-on-year.
Finally, US building permits fell sharply in March, falling 10.8% month-on-month to 1.37m units on the year – the weakest rate since August 2025. In contrast, housing starts jumped 10.8% to 1.50m – the strongest reading since December 2024 and ahead of builders’ expectations, as pressure continues.
Reported by Iain Gilbert at Sharecast.com
Dow Jones – Risers
Intel Corp. (INTC) $94.75 14.77%
Visa Inc. (V) $334.86 8.26%
Dow Chemical Co. (DOW) $39.55 4.05%
Cisco Systems Inc. (CSCO) $89.57 2.34%
Chevron Corp. (CVX) $192.22 2.05%
Unitedhealth Group Inc. (UNH) $370.74 1.08%
Merck & Co. Inc. (MRK) $110.95 0.84%
Coca-Cola Co. (KO) $78.87 0.66%
Apple Inc. (AAPL) $270.17 0.20%
Walmart Inc. (WMT) $0.00 0.00%
Dow Jones – Fallers
Boeing Co. (BA) $224.11 -2.86%
International Business Machines Corporation (CDI) (IBM) $227.10 -2.55%
Travelers Company Inc. (TRV) $302.25 -2.51%
Goldman Sachs Group Inc. (GS) $905.60 -2.26%
Home Depot Inc. (HD) $322.81 -1.90%
Procter & Gamble Co. (PG) $146.46 -1.82%
3M Co. (MMM) $143.87 -1.48%
Nike Inc. (ONLY) $44.39 -1.42%
Amgen Inc. (AMGN) $338.02 -1.39%
Verizon Communications Inc. (VZ) $46.61 -1.33%
S&P 500 – Risers
Intel Corp. (INTC) $94.75 14.77%
F5 Inc. (FFIV) $328.15 11.35%
Seagate Technology Plc (STX) $643.30 10.69%
Centene Corp. (CNC) $53.98 8.90%
Automatic Data Processing Inc. (ADP) $215.06 8.50%
Starbucks Corp. (SBUX) $105.50 8.36%
Visa Inc. (V) $334.86 8.26%
Gen Dynamics Corp. (GD) $338.73 7.99%
Western Digital Corp. (WDC) $412.76 6.79%
Verisk Analytics Inc. (VRSK) $188.19 6.62%
S&P 500 – Fallers
Brown Forman Corp. Class B (BF.B) $24.87 -10.31%
Charter Communications Inc. (CHTR) $158.65 -10.11%
Regeneron Pharmaceuticals Inc. (REGN) $686.36 -8.00%
Baxter International Inc. (BAX) $16.90 -5.80%
Kohls Corp. (KSS) $13.98 -5.60%
PACCAR Inc. (PCAR) $118.14 -5.55%
Bath & Body Works, Inc. (BBWI) $18.33 -4.83%
Illumina Inc. (ILMN) $120.37 -4.51%
Nektar Therapeutics (NKTR) $83.20 -4.20%
Masco Corp. (MAS) $71.26 -4.14%
Nasdaq 100 – Risers
Intel Corp. (INTC) $94.75 14.77%
Seagate Technology Plc (STX) $643.30 10.69%
Automatic Data Processing Inc. (ADP) $215.06 8.50%
Starbucks Corp. (SBUX) $105.50 8.36%
IT-Mobile Us, Inc. (TMUS) $198.17 6.83%
Western Digital Corp. (WDC) $412.76 6.79%
Verisk Analytics Inc. (VRSK) $188.19 6.62%
Biogen Inc (BIIB) $194.38 6.40%
Mondelez International Inc. (MDLZ) $61.04 5.37%
QUALCOMM Inc. (QCOM) $156.00 5.34%
Nasdaq 100 – Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Charter Communications Inc. (CHTR) $158.65 -10.11%
Regeneron Pharmaceuticals Inc. (REGN) $686.36 -8.00%
PACCAR Inc. (PCAR) $118.14 -5.55%
Illumina Inc. (ILMN) $120.37 -4.51%
Baidu Inc. (BIDU) $121.01 -4.17%
Henry Schein Inc. (HSIC) $73.80 -4.03%
Comcast Corp. (CMCSA) $26.76 -3.84%
Marriott International – Class A (MAR) $353.95 -3.29%
Mercadolibre Inc. (MELI) $1,767.02 -3.18%
