Markets Digest Fed Hold as Tech Earnings Loom
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BTCCSquare news:
The Federal Reserve's decision to maintain interest rates sent ripples through equity markets, with the Dow and S&P 500 retreating from recent highs. Tech stocks showed relative resilience ahead of earnings reports from sector giants Microsoft and Meta.
Policy divergence emerged as two Fed governors dissented, advocating for immediate rate cuts. Chair Powell's cautious remarks left the door open for future easing, noting it's too early to gauge trade policy impacts on economic data.
Underlying economic strength tempered market reactions. Second-quarter GDP growth rebounded to 3%, while private payrolls exceeded expectations. This robust backdrop complicates the Fed's path as political pressure for rate cuts intensifies.
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