This article first appeared on GuruFocus.
U.S. equities traded near record levels on Wednesday as investors focused on upcoming tech results and the Federal Reserve’s policy decision.
The Dow Jones Industrial Average gained about 0.4%, while the S&P 500 added around 0.2%. The Nasdaq Composite increased roughly 0.6%, supported by strength in large technology names.
Information technology led gains among the S&P 500’s 11 sectors. Real estate posted the day’s weakest showing.
Investors were preparing for corporate results from Alphabet (NASDAQ:GOOGL), Microsoft (NASDAQ:MSFT) and Meta (META), with several exchange-traded funds tied to the Magnificent Seven also in focus.
Nvidia (NASDAQ:NVDA) briefly crossed a $5 trillion market valuation, becoming the first company to reach that milestone.
The Federal Open Market Committee is expected to lower interest rates by a quarter percentage point later Wednesday. Market participants are looking for signals on future policy during Fed Chair Jerome Powell’s press conference.
Separately, U.S. President Donald Trump and Chinese President Xi Jinping are set to meet on Oct. 30 at the APEC summit in Gyeongju, South Korea, for trade discussions.
