Stocks just closed out a third straight winning day on Fed day 📈$SPX +0.28% to 7,743.98Dow +0.19% to 52,475.10Nasdaq +0…
Stocks just closed out a third straight winning day on Fed day 📈
$SPX +0.28% to 7,743.98Dow +0.19% to 52,475.10Nasdaq +0.27% to 26,549.85The Fed held at 3.75% to 4.00% in a 10-2 vote, with two members wanting another hikeThe 10 year yield pushed back above 5% at 5.04% and WTI crude jumped 2.8% to $102.72 after an attack on a Saudi refinery$Oracle(ORCL.US) was the standout, up 10.7% after Investor Day targets of $225B+ revenue by FY30Under the surface the Mag 7 were mixed, $Alphabet(GOOGL.US) +1.3% and $Meta Platforms(META.US) -1.2% into earningsAfter the bell $Microsoft(MSFT.US) rallied on Azure +48% while $Alphabet(GOOGL.US) slid despite Cloud doublingStocks shrugging off 5% yields, $100+ oil and a Fed that still leans toward hiking says a lot about how much the market is leaning on AI earnings right nowSource: StockMarket.News
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