Stocks drift ahead of the Fed – Fox Business

Allianz chief economic adviser Mohamed El-Erian discusses his outlook for the Fed and the economic recovery and a European banking mega deal.

U.S. equity markets were mixed as investors awaited the latest policy decision from the Federal Reserve.

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The Dow Jones Industrial Average gained 86 points, or 0.31%, in the opening minutes of trading while the S&P 500 and the Nasdaq Composite were 0.34% and 0.24%, respectively.

The Federal Reserve is widely expected to keep interest rates and policy on hold as it continues to monitor the U.S. economy’s rebound from the sharpest slowdown of the post-World War II era.

Looking at stocks, mega-cap tech stocks that have driven the market, including Apple Inc., Amazon Inc. and Tesla Inc. traded mixed.

A CFIUS decision on Oracle Inc.’s “trusted tech partnership” with Chinese-owned social media app TikTok is imminent.

Nikola Corp. shares were lower for the fourth time in five days as investors continued to digest a report from short-seller Hindenburg Research that accused the electric-truck maker of fraud. Nikola, which has called the claims “false and deceptive” is under investigation from the U.S. Securities and Exchange Commission.

Eli Lily reported its COVID-19 antibody treatment’s mid-stage trial reduced the hospitalization rate for patients diagnosed with mild or moderate cases.

A law firm hired by the Eastman Kodak Co.’s board of directors said securities transactions made by CEO Jim Continenza upon learning about a $765 million government loan to aid a pivot into producing generic drug ingredients did not violate internal policies. The situation remains under investigation by the U.S. regulators and Congress.

Dow component Boeing Co. made a number of missteps in the certification of the 737 Max aircraft that lead to two deadly crashes, according to an 18-month

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