Stock market today: Wall Street drifts ahead of the Federal Reserve's rate decision
U.S. stock indexes are drifting as Wall Street waits for an announcement from the Federal Reserve that could guide its direction into next year
NEW YORK (AP) — U.S. stock indexes are drifting higher Wednesday as Wall Street waits for an announcement from the Federal Reserve that could guide its direction into next year.
The S&P 500 rose 0.3% to inch closer to its all-time high set earlier this month. The Dow Jones Industrial Average was up 220 points, or 0.5%, as of 11 a.m. Eastern time, and the Nasdaq composite added 0.3%.
Jabil jumped 8.4% to help lead the market after reporting stronger profit and revenue for the latest quarter than analysts expected. The electronics company also raised its forecast for revenue for its full fiscal year.
Nvidia, the superstar responsible for a chunk of Wall Street’s rally to records in recent years, climbed 4.3% following a weekslong funk. It had dropped more than 12% from its record set last month and fallen in eight of the nine previous days as its big momentum slowed.
