Fed Chair Jerome Powell's hesitant outlook did not help stocks
The U.S. Federal Reserve left interest rates unchanged this afternoon, as widely anticipated, noting a stabilized unemployment rate and "solid" market conditions. After Fed Chair Jerome Powell's hesitant outlook on sticky inflation, major indexes finished the day lower. The Dow and tech-heavy Nasdaq marked triple-digit drops, with the S&P 500 settling in the red as well. Artificial intelligence (AI) chip leader Nvidia (NVDA) resumed its tumble following reports that the Trump administration is considering limiting chip sales to China amid DeepSeek pressure.
Continue reading for more on today's market, including:
- Starbucks stock drinks up post-earnings pop.
- Performance claims pushes DeepSeek rival higher.
- Plus, X lands new partnership; Moderna downgraded; and big names could see post-earnings rallies.
5 Things to Know Today
- The recent federal funding freeze that sent panic through non-profit organizations and government-funded programs was reversed this afternoon. (MarketWatch)
- The Trump administration is offering a buyout for almost all federal employees, with the White House noting they expect around 10% to accept. (CNBC)
- Elon Musk's X just locked in its latest partnership.
- Vaccine revenue a concern for Moderna stock, says analyst.
- Netflix-like post-earnings pops could be looming for more big names.
Crude Logs Rise in Weekly Supplies
Crude futures fell for the day, after the commodity saw its first weekly rise in supply in 10. March-dated West Texas Intermediate (WTI) crude dropped $1.15, or 1.6%, to settle at $72.62 per barrel.
Tariff threats remained in focus, with gold prices eking out a small gain even after the Fed's move to leave rates unchanged this afternoon, which pushed the U.S. dollar and bond yields higher. The contract for February delivery inched up 0.1% to settle around $2,779.80 an ounce.