US stock markets were mixed as investors awaited the latest decision from the Federal Reserve.
The Dow Jones Industrial Average rose 86 points, or 0.31%, in the first minutes of trading, while the S&P 500 and Nasdaq Composite were up 0.34% and 0.24%, respectively.
The Federal Reserve is widely expected to keep interest rates and policy afloat as it continues to monitor the rebound of the U.S. economy from the sharpest downturn in the post-World War II era.
Looking at stocks traded mixed mega-cap tech stocks that have driven the market, including Apple Inc., Amazon Inc. and Tesla Inc.
A CFIUS decision on Oracle Inc.̵
Nikola Corp. shares were lower for the fourth time in five days as investors continued to digest a report from card seller Hindenburg Research, which accused the electric truck manufacturer of fraud. Nikola, who has called the allegations “false and misleading,” is under investigation by the U.S. Securities and Exchange Commission.
Eli Lily reported that COVID-19 antibody treatment mid-term trials reduced the hospitalization rate for patients diagnosed with mild or moderate cases.
A law firm hired by Eastman Kodak Co.’s board of directors said securities transactions made by CEO Jim Continenza after learning about a $ 765 million government loan to help turn around the production of generic drug ingredients were not in contrary to internal policies. The situation remains under investigation by U.S. regulators and Congress.
Dow component Boeing Co. made a series of mistakes in the certification of the 737 Max aircraft, which led to two fatal crashes, according to an 18-month study conducted by a US House panel.
Looking at earnings, FedEx Corp.’s quarterly profit rose 60% from a year ago to $ 4.87 per share. Stock, boosted by an increase in online shopping due to COVID-19. The parcel delivery service said it will raise shipping rates by 4.9% to 5.9%, starting in January.
Looking at commodities, West Texas Intermediate crude climbed 87 cents to $ 39.15 a barrel, and RBOB gasoline jumped 1.35 cents to $ 1.1516 a gallon as investors priced the possibility that slow-moving hurricane Sally could cause floods and keep refineries idling. Meanwhile, gold totaled $ 8.20 to $ 1,974.40 an ounce.
The US Treasury was slightly changed with the return on the 10-year banknote holding near 0.675%.
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European markets were quiet with France’s CAC of 0.12%, Germany’s DAX unchanged and Britain’s FTSE at 0.12%.
In Asia, Japan’s Nikkei rose 0.09% when Yoshihide Suga was elected the country’s prime minister. Elsewhere in the region, Hong Kong’s Hang Seng slipped 0.03% and China’s Shanghai Composite shed slipped 0.36%.