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.
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.
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