{"id":114446,"date":"2024-11-08T07:19:28","date_gmt":"2024-11-08T07:19:28","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/stock-market-today-wall-street-ticks-higher-as-more-earnings-come-in-ahead-of-fed-rate-decision-walla-walla-union-bulletin\/"},"modified":"2024-11-08T07:19:28","modified_gmt":"2024-11-08T07:19:28","slug":"stock-market-today-wall-street-ticks-higher-as-more-earnings-come-in-ahead-of-fed-rate-decision-walla-walla-union-bulletin","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/stock-market-today-wall-street-ticks-higher-as-more-earnings-come-in-ahead-of-fed-rate-decision-walla-walla-union-bulletin\/","title":{"rendered":"Stock market today: Wall Street ticks higher as more earnings come in ahead of Fed rate decision – Walla Walla Union-Bulletin"},"content":{"rendered":"

A currency trader walks by the screens showing the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024.
A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024.
A tv cameraman films the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024.
A currency trader talks on the phone at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024.
Members of media stand near the screens showing the Korea Composite Stock Price Index (KOSPI), left, the foreign exchange rate between U.S. dollar and South Korean won and the Korean Securities Dealers Automated Quotations (KOSDAQ) at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024.
A TV camera screen shows the foreign exchange rate between U.S. dollar and South Korean won and the Korean Securities Dealers Automated Quotations (KOSDAQ) at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024.
People pass the New York Stock Exchange in New York’s Financial District on Tuesday, Nov. 5, 2024.
A board above the trading floor of the New York Stock Exchange shows the closing number for the Dow Jones industrial average, Wednesday, Nov. 6, 2024.
A man passes a video monitor on the side of the New York Stock Exchange in New York’s Financial District on Tuesday, Nov. 5, 2024.
Trader Edward McCarthy works on the floor of the New York Stock Exchange, Wednesday, Nov. 6, 2024.
A board above the trading floor of the New York Stock Exchange shows the closing number for the Dow Jones industrial average, Wednesday, Nov. 6, 2024.
A screen on the floor of the New York Stock Exchange shows the Federal Reserve rate decision, Thursday, Nov. 7, 2024.
Trader Christopher Lagana is reflected in one of his monitors as he works on the floor of the New York Stock Exchange, Thursday, Nov. 7, 2024.
Specialist Michael Pistillo works on the floor of the New York Stock Exchange, Thursday, Nov. 7, 2024.
A specialist works at his post on the floor of the New York Stock Exchange, Thursday, Nov. 7, 2024.
A pair of traders work on the floor of the New York Stock Exchange, Thursday, Nov. 7, 2024, in New York, as Federal Reserve Chair Jerome Powell news conference in Washington is displayed on a monitor.
A currency trader walks by the screens showing the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024.
A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024.
A tv cameraman films the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024.
A currency trader talks on the phone at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024.
Members of media stand near the screens showing the Korea Composite Stock Price Index (KOSPI), left, the foreign exchange rate between U.S. dollar and South Korean won and the Korean Securities Dealers Automated Quotations (KOSDAQ) at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024.
A TV camera screen shows the foreign exchange rate between U.S. dollar and South Korean won and the Korean Securities Dealers Automated Quotations (KOSDAQ) at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024.
People pass the New York Stock Exchange in New York’s Financial District on Tuesday, Nov. 5, 2024.
A board above the trading floor of the New York Stock Exchange shows the closing number for the Dow Jones industrial average, Wednesday, Nov. 6, 2024.
A man passes a video monitor on the side of the New York Stock Exchange in New York’s Financial District on Tuesday, Nov. 5, 2024.
Trader Edward McCarthy works on the floor of the New York Stock Exchange, Wednesday, Nov. 6, 2024.
A board above the trading floor of the New York Stock Exchange shows the closing number for the Dow Jones industrial average, Wednesday, Nov. 6, 2024.
A screen on the floor of the New York Stock Exchange shows the Federal Reserve rate decision, Thursday, Nov. 7, 2024.
Trader Christopher Lagana is reflected in one of his monitors as he works on the floor of the New York Stock Exchange, Thursday, Nov. 7, 2024.
Specialist Michael Pistillo works on the floor of the New York Stock Exchange, Thursday, Nov. 7, 2024.
A specialist works at his post on the floor of the New York Stock Exchange, Thursday, Nov. 7, 2024.
A pair of traders work on the floor of the New York Stock Exchange, Thursday, Nov. 7, 2024, in New York, as Federal Reserve Chair Jerome Powell news conference in Washington is displayed on a monitor.
NEW YORK (AP) \u2014 Most U.S. stocks rose Thursday, as the Federal Reserve cut interest rates<\/a> again to make things easier for the economy.
The S&P 500 climbed 0.7% to add to its surge from the day before<\/a> following Donald Trump\u2019s presidential victory<\/a>. The Dow Jones Industrial Average was virtually unchanged and edged down by less than a point, while the Nasdaq composite rallied 1.5%.
The Fed\u2019s announcement that it was easing its main interest rate caused few ripples in the market because even the precise size of it was so well anticipated by investors.
The central bank began easing rates in September and indicated more cuts were likely to come, as it focuses more on keeping the job market<\/a> humming after helping get inflation nearly down to its 2% target<\/a>. What\u2019s less certain in the minds of investors now is how much Trump\u2019s victory may upset<\/a> the Fed\u2019s plans.
Trump is pushing for tariffs and other policies that economists say could drive inflation higher<\/a>, along with the economy\u2019s growth. Traders have already begun paring forecasts for how many cuts to rates the Fed will deliver next year because of that. While lower rates can boost the economy, they can also give inflation more fuel.
For now, Fed Chair Jerome Powell said, nothing is changing. \u201cIn the near term, the election will have no effects\u201d on interest-rate policy, he said.
With any president, Powell said the Fed looks at possible policy changes and simulates how they could affect the economy. Only after looking at the overall effect of all the policies do Fed officials decide how that should shape where interest rates go. And at this point, Powell said it\u2019s still not clear what the policies will be after Trump returns to the White House.
\u201cWe don\u2019t guess, we don\u2019t speculate and we don\u2019t assume,\u201d he said.
On Wall Street, healthcare services company McKesson helped drive the market by jumping 10.6% after reporting a stronger profit for the latest quarter than analysts expected.
Lyft revved up by 22.8% after the ride-hailing app breezed past Wall Street\u2019s sales and profit expectations, and Ralph Lauren rose 6.6% after customers in Asia and Europe helped it deliver a bigger profit than expected.
They helped make up for bank stocks, which gave back some of their stellar gains from the day before. Other \u201cTrump trades\u201d that had rocketed higher after the election also lost some of their juice.
JPMorgan Chase fell 4.3%, a day after banks decisively led the market on expectations that a stronger economy and lighter regulation would mean fatter profits. It and Goldman Sachs were the biggest reasons for the Dow Jones Industrial Average’s slight loss.
Smaller U.S. stocks also lagged the market, with the Russell 2000 index down 0.4%. A day before, it more than doubled the S&P 500\u2019s gain on expectations that Trump\u2019s America-First priorities<\/a> would most benefit smaller, more domestically focused companies.
The stock that\u2019s become most synonymous with the president-elect, Trump Media & Technology Group<\/a>, fell 23%.
All told, the S&P 500 rose 44.06 points to 5,973.10. The Dow edged down by 0.59 to 43,729.34, and the Nasdaq composite gained 285.99 to 19,269.46.
In the bond market, the yield on the 10-year Treasury eased to 4.33% from 4.44% late Wednesday. It gave back a chunk of its surge from the prior day, driven by expectations that Trump\u2019s plans for higher tariffs, lower tax rates and lighter regulation<\/a> could lead to bigger economic growth, U.S. government debt and inflation.
A report on Thursday showed slightly more U.S. workers applied for unemployment benefits<\/a>, though the number remains relatively low. A separate report suggested U.S. workers improved their productivity during the summer, which can help keep a lid on inflation, but not by quite as much as economists expected.
In stock markets abroad, London\u2019s FTSE 100 fell 0.3% after the Bank of England cut<\/a> its own interest rate by a quarter of a percentage point.
In Asia, Japan\u2019s Nikkei 225 slipped 0.3% amid worries about the potential for a revival of trade tensions under a Trump administration.
\u201cI think everybody\u2019s going to be worried about Trump\u2019s tariffs because that\u2019s one of the things in his playbook. And so we\u2019ll have to see how things develop in the early stages of his presidency this time,\u201d said Neil Newman, head of strategy for Astris Advisory Japan.
Stocks rallied 2% in Hong Kong and 2.6% in Shanghai rallied after the Chinese government reported exports jumped<\/a> in October at the fastest pace in more than two years.
Trump has promised to slap blanket 60% tariffs on all Chinese imports, raising them still more if Beijing makes a move to invade the self-governing island of Taiwan. That would add to the burdens Beijing is facing<\/a> as it struggles to revive slowing growth in the world\u2019s second-largest economy.
But the impact may be less drastic than feared, Zichun Huang of Capital Economics said in a report.
\u201cWe expect shipments to stay strong in the coming months \u2013- any drag from potential Trump tariffs may not materialize until the second half of next year,\u201d Huang said.
AP Business Writers Matt Ott and Elaine Kurtenbach contributed to this report.
Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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A currency trader walks by the screens showing the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Thursday, Nov. 7, 2024.A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. […]<\/p>\n","protected":false},"author":1,"featured_media":114447,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-114446","post","type-post","status-publish","format-standard","has-post-thumbnail","category-world","entry"],"_links":{"self":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/114446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/comments?post=114446"}],"version-history":[{"count":0,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/114446\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media\/114447"}],"wp:attachment":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media?parent=114446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/categories?post=114446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/tags?post=114446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}