"The major indices traded all over the place before closing mixed, as the top news of the day centered on the Federal Reserve's January meeting, where, as expected, interest rates stayed put after three 25-basis-point increases in the last half of 2025. The Dow Jones Industrials closed modestly higher at 49,015, up just 0.02%, while the S&P 500 crossed the 7,000 level for the first time on the day before retreating into the close and finished flat at 6,978."
"Yields were modestly higher across the entire Treasury curve on Wednesday as the Federal Reserve delivered a widely expected decision to keep the Federal funds rate at 3.5%-3.75%. The wait-and-see message from Chairman Powell was also no surprise, as inflation, while much better than in the last few years, has remained stubbornly at 2.7%-2.8%, well above the Federal Reserve's 2% target. The 30-year-long bond closed the session at 4.86%, and the benchmark ten-year note ended the day at 4.25%."
"Oil continued to climb as prices across the energy complex rose again on Wednesday, and the trend remains the same. The real threat of military engagement in the Middle East region, specifically with Iran, is once again on the front burner. While Iran's defenses are very vulnerable, according to reports, the nations' retaliatory capabilities remain intact. Combine that geopolitical mess with weather conditions in the United States disrupting production and product transfer, and you have a strong tailwind for the sector."
Stocks finished mixed after a volatile session with futures trading higher. The Dow closed at 49,015, up 0.02%, the S&P 500 briefly crossed 7,000 before finishing flat at 6,978, and the Nasdaq rose 0.17% to 23,857. Small-caps fell for a fifth straight day as the Russell 2000 declined 0.49% to 2,653 while still leading U.S. indices year to date. The Federal Reserve held the federal funds rate at 3.5%-3.75% amid inflation near 2.7%-2.8%. Treasury yields moved modestly higher; the 30-year closed at 4.86% and the 10-year at 4.25%. Oil prices climbed on Middle East geopolitical risk and U.S. weather disruptions, with Brent at $68.67 and WTI at $63.53.
Read at 24/7 Wall St.
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