Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guides
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Shares
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
US open: Stocks higher ahead of Fed decision
(Sharecast News) - Wall Street stocks were in the green early on Wednesday as traders came to terms with the Federal Reserve's latest interest rate decision. As of 1545 GMT, the Dow Jones Industrial Average was up 0.07% at 36,604.18, while the S&P 500 advanced 0.21% to 4,653.39 and the Nasdaq Composite came out the gate 0.26% firmer at 14,571.80.
The Dow opened 26.24 points higher on Wednesday, extending gains recorded in the previous session as market participants digested some key inflation data.
Wednesday's primary focus will be the US central bank, which was widely expected to hold its benchmark overnight borrowing rate steady at 5.25-5.5% range. However, investors will also pay close attention to comments from FOMC chairman Jerome Powell for any hints as to just how soon rate cuts can be expected.
The Fed's decision comes just 24 hours after a report from the Department of Labor revealed that the cost of living had drifted a tad lower in November amid another decline in energy prices. In seasonally adjusted terms, the country's consumer price index edged up by 0.1% month-on-month, while in annual terms, on the other hand, the rate of change ticked lower by one-tenth of a percentage point to 3.1%.
Elsewhere on the macro front, US mortgage applications surged by 7.4% in the week ending 8 December, according to the Mortgage Bankers Association of America, marking a sixth consecutive increase and pushing applications to their highest level in more than four months, mostly due to a continuous decline in interest rates. Refinancing applications saw a significant uptick of 19.4% week-on-week, while applications for new home purchases rebounded by 3.5% as the average interest rate on a 30-year fixed mortgage fell to 7.07% - hitting its lowest point since late July.
On another note, wholesale prices were held in check last month by a drop in energy costs, with producer prices coming in flat month-on-month in November, according to the Labor Department. In annual terms, however, so-called final demand price growth slowed from 1.2% in October to 0.9%. On the goods side of the equation, prices were unchanged on the month, with a 1.2% drop in energy prices offsetting a 0.6% rise in food costs.
In the corporate space, drugmaker Pfizer shares traded lower after issuing full-year profit and revenue guidance that lagged consensus. Pfizer also revealed on Wednesday that it has now received all regulatory approvals needed to close its $43.0bn acquisition of Seagen after agreeing to donate the rights of royalties from sales of its Bavencio cancer drug to the American Association for Cancer Research.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Merck & Co. Inc. (MRK) $105.06 0.67% Procter & Gamble Co. (PG) $146.89 0.65% McDonald's Corp. (MCD) $293.28 0.64% Apple Inc. (AAPL) $195.85 0.59% Salesforce.Com Inc. (CRM) $257.62 0.46% Walt Disney Co. (DIS) $91.47 0.44% Boeing Co. (BA) $249.49 0.35% Microsoft Corp. (MSFT) $375.55 0.31% Amgen Inc. (AMGN) $274.61 0.23% Coca-Cola Co. (KO) $59.51 0.14%
Dow Jones - Fallers
Verizon Communications Inc. (VZ) $36.61 -1.85% Johnson & Johnson (JNJ) $153.50 -1.01% International Business Machines Corporation (CDI) (IBM) $163.13 -0.96% 3M Co. (MMM) $101.82 -0.72% Walgreens Boots Alliance, Inc. (WBA) $22.79 -0.61% Unitedhealth Group Inc. (UNH) $542.80 -0.54% Cisco Systems Inc. (CSCO) $49.13 -0.40% JP Morgan Chase & Co. (JPM) $160.08 -0.27% Home Depot Inc. (HD) $332.86 -0.10% Dow Chemical Co. (DOW) $50.77 -0.10%
S&P 500 - Risers
Vertex Pharmaceuticals Inc. (VRTX) $390.30 7.57% Revvity, Inc. (RVTY) $93.57 4.59% Albemarle Corp. (ALB) $133.60 4.42% Edwards Lifesciences Corp. (EW) $74.13 2.95% Take-Two Interactive Software Inc. (TTWO) $161.47 2.72% Mohawk Inds Inc. (MHK) $93.50 2.66% Incyte Corp. (INCY) $64.72 2.44% Illumina Inc. (ILMN) $120.19 2.17% L3Harris Technologies Inc. (LHX) $204.29 1.99% Boston Properties Inc. (BXP) $63.99 1.98%
S&P 500 - Fallers
Pfizer Inc. (PFE) $26.08 -8.75% Southwest Airlines Co. (LUV) $28.65 -5.48% Dish Network Corp. (DISH) $4.12 -3.96% Best Buy Co. Inc. (BBY) $71.23 -3.10% United Airlines Holdings Inc (UAL) $39.88 -2.98% American Airlines Group (AAL) $13.66 -2.67% Nordstrom Inc. (JWN) $16.31 -2.46% Harley-Davidson Inc. (HOG) $31.55 -2.26% Gap Inc. (GPS) $20.82 -2.25% Macy's Inc. (M) $18.67 -2.13%
Nasdaq 100 - Risers
Vertex Pharmaceuticals Inc. (VRTX) $390.30 7.57% Take-Two Interactive Software Inc. (TTWO) $161.47 2.72% Incyte Corp. (INCY) $64.72 2.44% Illumina Inc. (ILMN) $120.19 2.17% Nvidia Corp. (NVDA) $483.40 1.43% Intuitive Surgical Inc. (ISRG) $324.73 1.02% Regeneron Pharmaceuticals Inc. (REGN) $872.30 0.99% Broadcom Inc. (AVGO) $1,086.03 0.91% Western Digital Corp. (WDC) $50.05 0.87% Electronic Arts Inc. (EA) $141.51 0.84%
Nasdaq 100 - Fallers
Dish Network Corp. (DISH) $4.12 -3.96% American Airlines Group (AAL) $13.66 -2.67% Vodafone Group Plc ADS (VOD) $8.18 -2.09% Tesla Inc (TSLA) $232.74 -1.80% Adobe Systems Inc. (ADBE) $624.34 -1.80% Baidu Inc. (BIDU) $111.31 -1.63% Mercadolibre Inc. (MELI) $1,590.75 -1.62% Liberty Global plc Series A (LBTYA) $15.80 -1.20% Expedia Group Inc. (EXPE) $144.37 -1.16% Hasbro Inc (HAS) $47.85 -1.08%
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Diversity, Equity & Inclusion Reports | Doing Business with Fidelity | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing programme
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.