Stock market today: Wall Street mostly higher on earnings ahead of Federal Reserve meeting
Futures for the S&P 500 rose 0.2% before the bell, while futures for the technology-laden Nasdaq climbed 0.3%. Futures for the Dow Jones Industrial Average were unchanged.
The Fed’s latest policy meeting starts Tuesday and wraps up the following day with an interest rate announcement expected Wednesday afternoon.
Virtually no one expects the
PayPal and
PayPal's surprisingly strong profit was fueled by an 8% year-over-year jump in revenue.
Pharmaceutical giant Merck also beat sales and profit targets but its shares slid 1.8% after it cut its full-year profit guidance due to acquisition expenses. Shares of
Big Tech stocks drove the S&P 500 to dozens of records this year, in part on investors’ frenzy around artificial intelligence technology, but they ran out of momentum this month amid criticism they have grown too expensive. Last week, investors found profit reports from Tesla and Alphabet underwhelming, which raised concerns that other stocks in what is known as the “Magnificent Seven” group of Big Tech stocks could also fail to impress.
In addition to the Fed, the
Gross domestic product, the total output of goods and services, rose 0.3% in the second quarter in the 20 countries that use the euro currency, according to official figures released Tuesday by
But
In
In Asian trading,
"Markets may be having a tough time positioning the central bank meetings this week,"
In
In energy trading, benchmark
In currency trading, the
On Monday, The S&P 500 edged up 0.1% and the Dow Jones Industrial Average slipped 0.1%. The Nasdaq composite added 0.1%.
Cancer costs for Americans with private health insurance rose after the ACA rollout and fell for those with Medicaid
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