The market flipped between minor gains and losses throughout a fairly mundane Wednesday that the Federal Reserve failed to spice up.
This afternoon, the Fed released its minutes from the Federal Open Market Committee meeting in March, and officials expressed patience in keeping its easy monetary policy in place, believing it will be "some time" until its economic and price-stability goals are met.
"Without doubt, the March FOMC meeting minutes point to a desire to maintain a highly accommodative stance of monetary policy for the foreseeable future," says Bob Miller, BlackRock's head of Americas Fundamental Fixed Income. But he adds that "the March meeting also saw seven of 18 participants who did not think keeping the target policy range unchanged for three more years was appropriate.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
Sign up for Kiplinger’s Free 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.
"That's now becoming too many voices to squelch. … We think this debate will unfold further as the economy (and inflation) strengthen in the coming months."
There were individual pockets of motion across today's market – larger tech-related stocks such as Twitter (TWTR, +3.0%) and Nvidia (NVDA, +2.0%) headed higher, as did recovery plays such as retailer L Brands (LB, +3.6%) and cruise line operator Carnival (CCL, +1.4%).
But the broader indexes hardly moved. The Dow improved marginally to 33,446.26. The S&P 500 gained just 0.2% to 4,079, but that was enough to mark a new all-time high.
Other action in the stock market today:
- The Nasdaq Composite was off marginally to 13,688.
- The small-cap Russell 2000 had a much rougher go at things, dropping 1.6% to 2,223.
- U.S. crude oil futures headed higher again, up a modest 0.4% to $59.55 per barrel.
- Gold futures slipped a mere 0.1% to $1,741.60 per ounce.
- Bitcoin prices took a tumble, falling 3.6% to $56,136. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m. each trading day.)
Which Stocks Should You Watch? Here's What a Machine Had to Say.
Over the past few years, we've frequently touted the potential of artificial intelligence (AI). This technology's ability to revolutionize everything, from industrial logistics to toasting your bread, has made the companies who enable artificial intelligence, or best utilize it, into many of the market's top returners.
Several AI-focused funds have come to life as a result, and some of today's most innovative companies have AI flowing through their business.
But artificial intelligence can do more than power profitable stocks – apparently, it can pick 'em, too.
Near the start of 2021, we explored an AI-powered analytics platform and some of its selections, and, since then, those stocks have clobbered the market. Naturally, we're curious whether this "robo-picker" can continue to outperform, so we've taken a fresh (and expanded) look at this system's top stocks to watch right now. You should, too.
Kyle Woodley was long NVDA as of this writing.
-
IRS Sets Start Date for New Mandatory Roth Catch-Up ContributionsRetirement Savings The IRS has clarified some questions surrounding new catch-up contribution rules for retirement savings plans.
-
I’m Not Worried About Saving for Retirement; I’ll Just Work Forever. What Can Go Wrong?Here's why that approach to saving for retirement doesn't always work out.
-
Dow Hits New Intraday High on Fed Day: Stock Market TodayNot even the most important stock in the world could keep the oldest equity index down on a significant day for markets.
-
Investing Freebies: Perks You Get for Owning These StocksWhile the biggest investing returns come over the long term, these companies offer instant gratification for investors with several freebies and perks.
-
Stocks Rise to Start Fed Week: Stock Market TodayThe Nasdaq Composite and S&P 500 hit new record closing highs as Wall Street awaits the Fed's next rate cut.
-
Stocks Slide to Start September: Stock Market TodaySeasonal trends suggest tough times for the stock market as we round into the end of the third quarter.
-
If You'd Put $1,000 Into Sherwin-Williams Stock 20 Years Ago, Here's What You'd Have TodaySherwin-Williams stock has clobbered the broader market by a wide margin for a long time.
-
AI Start-ups Are Rolling in CashThe Kiplinger Letter Investors are plowing record sums of money into artificial intelligence start-ups. Even as sales grow swiftly, losses are piling up for AI firms.
-
If You'd Put $1,000 Into UnitedHealth Group Stock 20 Years Ago, Here's What You'd Have TodayUNH stock was a massive market beater for ages — until it wasn't.
-
S&P 500 Tops 6,500 Even as Nvidia Slips: Stock Market TodayThe world's most valuable company closed lower after earnings, but the S&P 500 managed to notch a new record high.
