The S&P 500 edged up 0.1% and the Nasdaq 0.3% on Wednesday (July 30), while the Dow Jones Industrial Average hovered near the flatline, as investors awaited the Fed's policy decision and assessed key economic data. The Fed is expected to keep its benchmark interest rate unchanged, with the market closely monitoring its outlook for the remainder of the year, especially after preliminary data showed US GDP grew stronger than expected by 3% in Q2, reinforcing signs of a resilient economy.
Furthermore, ADP data showed the US private sector added 104,000 jobs in July, significantly higher than the 75,000 expected. On the trade front, President Trump announced 25% tariffs on India starting August 1, with the possibility of further sanctions on Russian energy imports. Meanwhile, Microsoft and MetaTrader will report quarterly results after the closing bell. Visa rose 0.8% after delivering better-than-expected results, while Starbucks fell more than 1% despite reporting stronger-than-expected revenue. (alg)
Source: Trading Economics
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