Following two days of losses, all three major indexes finished the volatile, Fed-focused session with gains. The Dow Jones Industrial Average (DJI) jumped 284 points, while the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) closed modestly higher as well. The Federal Reserve kept its overnight borrowing rate steady as expected, between 4.25% and 4.5%, while Fed Chair Jerome Powell highlighted economic uncertainty, warning against price increases and economic slowdowns due to tariffs.
Continue reading for more on today's market, including:
- Behind Upstart stock's slide today.
- 2 notable tech earnings reports.
- Plus, the S&P's bullish outside day; EV stocks to watch; and UBER's major revenue miss.
5 Things to Know Today
- Netflix (NFLX) revealed several major branding and tech updates to its app, including a fresh AI tool for users. (CNBC)
- At least 31 people have been killed in an airstrike by India against Pakistan, as tensions continue to increase. (Bloomberg)
- What a bullish outside day means for this major benchmark.
- A pair of EV stocks to watch today.
- Uber stock drives lower on revenue miss.
Oil and Gold Suffer Post-Fed Losses
Worries surrounding the stabilization of the economy's future pressured oil prices. June-dated West Texas Intermediate (WTI) oil lost $1.02, or 1.73%, to settle at $58.07 per barrel.
A steady interest rate from the Fed and a firm dollar pushed gold futures lower today. June-dated gold shed 0.7% to closed near $3,399.10 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
