The Dow gained 97 points Wednesday, staying steady after the Federal Reserve kept interest rates at the target rate range of 3.75%-4%. Chairman Kevin Warsh said the central bank remained focused on “price stability,” while employment overall has been “quite positive." Investors now turn to earnings from Big Tech titans Microsoft (MSFT) and Alphabet (GOOGL), as well September's personal consumption expenditures (PCE) price index, scheduled tomorrow.
The S&P 500 and Nasdaq finished comfortably higher, with all three major indexes now on three-day win streaks. Elsewhere, the Russell 2000 logged its seventh positive session out of eight while the VIX cooled for the third-session in a row.
Crude Reclaims $100 on Geopolitical Jitters
Oil prices rose back above the $100 level while traders grow concerned about tensions escalating in the Middle East as threats are exchanged. December-dated West Texas Intermediate (WTI) futures jumped 2.9% to finish at $102.78 a barrel.
Gold prices fell as Middle East escalation jitters spread. December-dated gold futures shed 0.9% to settle at $4,036.50 per ounce.
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