FX.co ★ US Stocks Trim Gains

On Wednesday, U.S. equity indices saw a reduction in their earlier gains, although they stayed slightly positive as investors awaited key tech earnings and anticipated that the Federal Reserve would maintain the current interest rate. The S&P 500 edged higher, surpassing the 7,000 mark for the first time. Meanwhile, the Dow Jones increased by 50 points, and the Nasdaq 100 approached record levels with a 0.5% rise. In the tech sector, AI-related companies performed well. ASML's stronger-than-expected order figures and Texas Instruments surpassing Wall Street expectations boosted their stocks by 9%, while Micron and Intel rose 5% and 12%, respectively. Conversely, stocks for Microsoft, Meta, and Tesla dipped slightly ahead of their earnings reports to be released after the market close. Outside the technology field, Starbucks experienced a 6% increase, and AT&T saw a 5% uptick following their earnings announcements. Concurrently, the Federal Reserve was poised to maintain its interest rate at the current level in its first decision of the year, with potential dissent among FOMC members hinting at varying perspectives within the committee.