U.S. stocks largely held in place as Wall Street waits to hear what the Federal Reserve will say Wednesday about where interest rates are heading. The S&P 500 edged down by 0.1% Tuesday, though it remains near its all-time high. The Dow Jones Industrial Average dipped 0.4%, and the Nasdaq composi.
— U.S. stocks largely held in place as Wall Street waits to hear what the Federal Reserve will say Wednesday about where interest rates are heading. The S&P 500 edged down by 0.1% Tuesday, though it remains near its all-time high. The Dow Jones Industrial Average dipped 0.4%, and the Nasdaq composite added 0.1%. JPMorgan Chase was the heaviest weight on the market after a top executive said the bank’s expenses could rise about 9% next year. Treasury yields climbed following an update on U.S. job openings. The report could persuade the Fed that the economy doesn’t need much more help from lower interest rates.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
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— U.S. stocks are drifting on Tuesday as Wall Street waits to hear what the Federal Reserve will say on Wednesday about where interest rates are heading.
The S&P 500 was virtually unchanged and remained near its all-time high, which was set in October. The Dow Jones Industrial Average was down 124 points, or 0.3%, with less than an hour remaining in trading, and the Nasdaq composite was 0.2% higher.
Exxon Mobil was one of the strongest forces pushing upward on the market. It climbed 2.3% after increasing its forecast for profit over the next five years, thanks in part to strength for its fields in the Permian basin in the United States and off Guyana’s shore.
But JPMorgan Chase dragged on the market after a top executive, Marianne Lake, said expenses for the bank could hit $105 billion next year. That would be up 9% from an estimated $95.
