Stock Market Today: Big Tech Gets Grilled; KODK, Stocks Keep Cooking
Big Tech stocks pushed higher Wednesday as their CEOs were questioned on Capital Hill, and Kodak's (KODK) incredible ascent continued.


Investors turned to Washington on Wednesday, where the Federal Reserve made its latest policy statement, and where Big Tech chiefs gathered to face Congress in a historic antitrust hearing. It also saw Eastman Kodak (KODK) continue its sudden sizzling run.
The House Judiciary Antitrust Subcommittee questioned Amazon.com's (AMZN, +1.1%) Jeff Bezos, Apple's (AAPL, +1.9%) Tim Cook, Facebook's (FB, +1.4%) Mark Zuckerberg and Alphabet's (GOOGL, +1.3%) Sundar Pichai on Wednesday, but the hearing did little to shake confidence in their respective shares.
Likewise, America's central bank did little to rock the apple cart, stating it would keep interest rates near zero to support the economy, though Fed Chair Jerome Powell acknowledged "the pace of the recovery looks like it has slowed since mid-June."

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
"The key to near-term monetary policy will be all about the Fed’s dual mandate, but with one side of the mandate being the primary target (employment) and the other governing how far the central bank is willing to go (inflation)," says Rick Rieder, BlackRock's Chief Investment Officer of Global Fixed Income. "The fact is that the Fed likely has an impressively long runway yet, as it could be a very long time before we regain full employment, which didn’t even appear to be inflation-accelerating at a 3.5% unemployment rate."
The major indices finished broadly higher, with the Dow Jones Industrial Average up 0.6% to 26,539, the S&P 500 up 1.2% to 3,258, and the tech-heavy Nasdaq Composite closing 1.4% higher to 10,542.
Wall Street's Hottest Growth Story: Kodak?
But Wednesday's major index leader was the the small-cap Russell 2000, which sprinted ahead by 2.1% to 1,500. That was in part thanks to Wednesday's biggest story: the continuing surge of photography (er, pharma?) stock Eastman Kodak.
KODK shares, which more than tripled Tuesday after the company announced it received a $765 million Defense Production Act loan to open pharmaceutical production factories in America, shot another 318% higher Wednesday, tripping well more than a dozen circuit-breakers during the day.
The once-great photography firm, worth less than $100 million by market value to start the week, now is worth roughly $1.5 billion.
Most investors weren't quick enough to jump on KODK's flash success, of course, but that doesn't mean you still can't tap red-hot growth – if you're willing to wait for more than a couple days for these opportunities to ripen, anyway.
Investors who prefer to stay diversified while chasing growth can do so in traditional growth funds, or even look overseas with these 10 emerging-markets ETFs.
If you're looking to take a shot with individual funds, however, sometimes it's best to look where everyone isn't (yet.) The tech sector, for instance, is filled with stocks that sit in the shadow of the Apples and Microsofts of the world but have explosive growth potential nonetheless.
Actually, tech isn't alone in that respect. Here, we look at 19 stocks that probably aren't on your radar … but are doing more and more to deserve your attention.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.
Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism.
You can check out his thoughts on the markets (and more) at @KyleWoodley.
-
Ten Cheapest Places to Live in Texas
Property Tax Looking for a cheap place to live in Texas? Look no further. These counties have the lowest property tax bills in the Lone Star State.
-
AI Is Missing the Wisdom of Older Adults: What It Means for You
AI will increasingly affect your healthcare and finances, but young workers are primarily designing the systems and getting most of the jobs.
-
Stock Market Today: Rally Extends on Good-Enough Expectations
Fiscal policy still has markets' attention, but taxes rather than tariffs and deficits rather than inflation are participants' primary focus.
-
AI vs the Stock Market: How Did Tech Stocks, Palantir and Albemarle Perform in May?
AI is a new tool to help investors analyze data, but can it beat the stock market? Here's how a chatbot's stock picks fared in May.
-
Stock Market Today: "Good Trump" Gives Dow 740-Point Boost
Friday's headwind was Tuesday's tailwind, as President Trump's social media posts continue to drag and drive financial markets.
-
A Case Study in Mismatched Fund Returns
Stock Market Why do a fund's returns sometimes differ from its underlying index? A longstanding legal principle holds the key.
-
Stock Market Today: Stocks Drop as Trump Takes Aim at EU, Apple
The commander in chief issued new tariff threats against the European Union and the iPhone maker.
-
Stock Market Today: Stocks Chop After House Passes Trump's Tax Bill
The bill, which was narrowly approved by the House of Representatives, will now move to the Senate.
-
Stock Market Today: Dow Falls 817 Points as Bond Yields Rise
Financial markets are once again focused on Washington, D.C., but taxes, not tariffs, are driving recent price action.
-
My Three-Day Rule for Investing: And If it Applies Now
Stock Market I've seen a lot in my career. Here's what I see now in the stock market.