Stock market today: Dow, S&P 500, Nasdaq rise as Fed holds Federal Reserve‘s 10-2 vote to maintain current <a s policy decision, where officials voted to leave the federal funds rate unchanged despite persistent inflation data. Cleveland Fed President Beth Hammack and Fed Governor Lisa Cook dissented, expressing a preference for a rate increase.
Fed Chairman Kevin Warsh also announced that the central bank will reduce its number of policy-setting meetings in the coming year.
Market sentiment regarding the tech sector has strengthened significantly this week, with both the S&P 500 and the Nasdaq recording consecutive daily gains. Semiconductor stocks climbed for the third straight session following a report from South Korean memory chip manufacturer SK Hynix (SKHY, 000660.KS) showing a 632% year-over-year profit surge. Peers Micron (MU) and Samsung (005930.KS) also saw their share prices rise.
Oracle (ORCL) shares surged after the cloud computing and software firm projected fiscal 2030 revenue of $225 billion, which suggests an annual growth rate of 35%.
Earnings season remains in full swing as two major cloud and tech leaders—Microsoft and Alphabet—prepare to provide updates on AI demand and capital expenditure strategies after the market closes. Microsoft’s report follows its recent offer of buyouts to as many as 60,000 employees as the company seeks to optimize operations during its ongoing AI expansion.
