US opens higher with Fed rate decision in focus

Wednesday, 27. July 2022 15:30

Major stock markets in the United States traded higher on Wednesday as investors eagerly await the Federal Reserve's decision on key interest rates and further monetary policy.

On the data front, US international trade goods deficit shrank 5.6% month on month, while the wholesale inventories and durable goods orders in the country both increased 1.9% compared to the month prior. Meanwhile, Boeing's revenue in the second quarter decreased 2% on an annual basis and Kraft Heinz's net sales for the same period dropped 0.9%. Meta, Ford and Qualcomm are all scheduled to release their earnings after the closing bell.

The Dow Jones added 0.44% or 140 points at the opening bell, with Microsoft, its best performer, jumping 5.09% simultaneously. The S&P 500 grew 0.94% at 9:30 am ET, as Norwegian Cruise Line surged 3.94% a minute later. The Nasdaq 100 rose 1.74% or 211 points at the open, as PayPal skyrocketed 7.67% at 9:31 am ET. The euro traded 0.29% higher against the dollar at 9:29 am ET, selling for 1.01445.

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