HomeFinancial MarketsU.S. Stocks Edge Higher Ahead of Fed Rate Decisions

U.S. Stocks Edge Higher Ahead of Fed Rate Decisions

Stocks edged higher during early trading on Monday as investors brace themselves for the Federal Reserve’s interest rate decision later in the week. The Fed is set to convene on Tuesday and Wednesday, with an announcement due late Wednesday along with a press conference by Fed Chair Jerome Powell.

Futures on the S&P 500 rose 0.2%, while those on the Nasdaq 100 gained 0.3%. Contracts listed on the Dow Jones Industrial Average edged 0.1% higher.

European markets saw plenty of action on Monday, with the Stoxx Europe 600 advancing 0.4% higher during the morning session. Swiss pharmaceutical company Novartis AG reached an agreement to purchase Chinook Therapeutics Inc. for around $3.5 billion, while Teck Resources Ltd. is in talks with Glencore Plc over the potential purchase of the latter’s steelmaking coal business.

Ahead of the Fed’s policy decision, investors will be awaiting the U.S. inflation report set to be released on Tuesday. The report is expected to provide further indication of the likelihood of the Fed implementing a pause to its interest rate hiking agenda.

Tesla Delays the Launch of U.S.-Made Affordable EV

Electric vehicle maker Tesla is delaying the launch of its U.S.-made affordable car for at least several months according to a newest report by...

Netflix’s Resilience Praised by Wall Street Analysts After Strong Q1 Earnings

Streaming giant Netflix continues to be championed by Wall Street analysts, who view the company as “resilient” in a tough economic environment after strong...

Fed to “Wait for Greater Clarity” Before Making Policy Adjustment Says Chair Jerome Powell

The Federal Reserve will wait to see the impact of recent sweeping tariffs on the U.S. economy before considering making policy adjustments, according to...