Stocks, Bonds, Dollar Churn Before Fed Decision: Markets Wrap
(Bloomberg) — Wall Street investors refrained from making big moves before key tech results and the Federal Reserve decision that will shape the outlook for markets through the remainder of 2026.
Following back-to-back gains, the S&P 500 fluctuated. The artificial-intelligence trade that has powered the equity bull run is set for a fresh test when Microsoft Corp. and Alphabet Inc. report earnings later Wednesday. Treasury yields and the dollar were little changed. Oil climbed.
With US policymakers widely expected to hold rates steady, attention will shift to any clues on the path of monetary policy. If they do stay put, Fed Chair Kevin Warsh could face pressure to explain the rationale for not acting now after they voted unanimously last month to raise rates to address burgeoning inflation.
Projections released last month signaled officials supported one additional hike this year. The Fed will release a post-meeting statement at 2 p.m. Wednesday in Washington, and Warsh is scheduled to hold a press conference 30 minutes later.
Corporate Highlights:
OpenAI intends to buy AI computing chips from Alphabet Inc.’s Google, according to a person familiar with the matter. SK Hynix Inc. unveiled plans to return about $45 billion more to shareholders after profit surged a stronger-than-expected seven-fold. GE Vernova Inc. agreed to pay $9 billion to acquire Trench Group. The company also raised its sales guidance. Vertiv Holdings Co. expects 2026 sales to almost triple since 2021 as it benefits from soaring demand for data-center equipment. Robinhood Markets Inc. dropped on disappointing earnings. JPMorgan Chase & Co. trimmed its price target, noting a decline in customer engagement. Boston Scientific Corp. sank after the medical-device maker’s profit outlook fell short of the average estimate. Some of the main moves in markets:
Stocks
The S&P 500 was little changed as of 9:56 a.m. New York time The Nasdaq 100 was little changed The Dow Jones Industrial Average rose 0.1% The Stoxx Europe 600 rose 0.1% The MSCI World Index was little changed Currencies
The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1134 The British pound was little changed at $1.3295 The Japanese yen was little changed at 158.09 per dollar Cryptocurrencies
Bitcoin fell 0.2% to $80,526.37 Ether fell 0.4% to $2,331.41 Bonds
The yield on 10-year Treasuries was little changed at 5.00% Germany’s 10-year yield was little changed at 3.35% Britain’s 10-year yield declined three basis points to 5.31% Commodities
West Texas Intermediate crude rose 2% to $101.91 a barrel Spot gold fell 0.3% to $4,049.90 an ounce ©2026 Bloomberg L.P.
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