The Dow Jones today will climb higher ahead of the latest update from the U.S. Federal Reserve. The central bank will complete its two-day meeting on monetary policy on Wednesday.
Virtually no one expects any changes to the central bank’s stance on interest rates. However, investors are paying close attention to how the Fed plans to address inflation. Concerns about the economy continue to swell. More on everything moving the Dow today, below.
We’ll start with the numbers from Tuesday for the Dow, S&P 500, and Nasdaq:
Index Previous Close Point Change Percentage Change Dow Jones 27,995.60 +2.27 +0.01 S&P 500 3,401.20 +17.66 +0.52 Nasdaq 11,190.32 +133.67 +1.21
Now here’s a closer look at today’s most important market events and stocks. We’ll also discuss the stories that slipped under the radar of the mainstream financial press on Wednesday.
The Top Stock Market Stories for Wednesday
Today, the stock market is going one way (higher), while the global economy appears headed in the opposite direction. The Organization for Economic Cooperation and Development (OECD) said this morning that global growth is expected to decline by 4.5% in 2020. That is a very lofty decline in the age of the pandemic. The OECD said that sectors like tourism and travel have been crushed due to COVID-19. The 4.5% cut is actually an improvement from the previous prediction of a 6% cut. The OECD predicts that global growth will rebound by 5% next year (but keep in mind a 5% decrease is a lot larger than a 5% increase).
Extra: The uncensored, unscripted, and unbridled list of stocks to buy (and avoid) right now. Click here…
Johns Hopkins University reports that the number of U.S. COVID-19 cases