US stocks rose on Wednesday as the Federal Reserve’s highly anticipated interest rate announcement kept investors on edge.
The S&P 500 rose 0.4% early in the session, while the Dow Jones Industrial Average rose by about the same margin, or 130 points. The tech-heavy Nasdaq Composite advanced 0.3%.
The moves in early trade come next The three major averages are down about 1% In the previous session, the VIX – a measure of Wall Street’s volatility – rose 5.4% to 27.16.
Activity across the bond market has been closely watched throughout the week. Treasury yields continued their perilous rally Wednesday morning, as the two-year interest rate-sensitive Treasury crossed 4% for the first time since 2007. The US 10-year bond held above 3.5%, the highest level since 2011.
Among the market drivers early Wednesday was General Mills (GIS), which rose about 4% at the opening after the company reported better-than-expected quarterly earnings and raised its full-year sales forecast as it benefits from higher prices for breakfast cereals, snack foods and pet food.
beyond meat (BYND) gained more than 2% after that Announcing a Partnership with Taco Bell (yes) in their first collaboration on the list: Beyond Carne Asada Steak. The news helped BYND’s paw come back from a nearly 3% pre-market decline after meat substitute producer Doug Ramsey suspended Chief Operating Officer Doug Ramsey over his alleged arrest. Biting a man’s nose this weekend In a road rage accident.
stitch repair (SFIX) Shares of the company fell nearly 5% after the company reported disappointing fourth-quarter revenue forecasts and sales guidance and reported a drop in active customers.
US central bank officials are scheduled to present a Third, an increase of 75 basis points in a row to their benchmark policy price Wednesday at 2 p.m. ET. At the conclusion of policy development discussions.
Market participants will also be watching feedback from Federal Reserve Chairman Jerome Powell After the meeting, along with the economic outlook for US central bank members and the latest point chart showing each official’s forecast for the Fed’s short-term interest rate.
“The meeting-driven, data-driven approach adopted by central banks around the world will allow for some easing in the pace of monetary tightening in the coming months, but central bankers have cautioned that such action will only happen if and when,” said Gregory Dako, chief economist. In the Parthenon, in a note: “And when there is convincing evidence of low inflation.”
Across the Atlantic, Russian President Vladimir Putin Declare a “partial mobilization” of Ukraine He pledged to annex the occupied territories. In a televised message, he described these steps as “urgent and necessary steps to defend Russia’s sovereignty, security and territorial integrity.”
The threat of an escalation of Russia’s war against Ukraine shook the markets. Oil prices rose, with West Texas Intermediate (WTI) crude futures up 2.5% to $86.07 a barrel, and Brent crude up 2.4% at $92.81 a barrel. The dollar rose towards a new record while the euro slid. In the cryptocurrency markets, bitcoin (BTC-USD) dropped to less than $19,000.
Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter Tweet embed