Dow sees moderate gains, but Nasdaq kicks off significantly higher on Wednesday ahead of Fed policy update, key tech audience


U.S. stock indexes opened with gains on Wednesday as investors waited for the conclusion of a Federal Reserve policy meeting later in the day, watched discussions of a coronavirus aid package in Congress, and awaited a hearing highly anticipated Congress show featuring the giants of Silicon Valley and e-Commerce. The Dow Jones Industrial Average DJIA,
+ 0,22%
rose by less than 0.1% to 26404, the S&P 500 SPX,
+ 0,76%
opened 0.4% at 3230, while the Nasdaq Composite Index COMP,
+ 1,11%
rose 0.7% to 10,474. The Federal Reserve will conclude a two-day political meeting later on Wednesday, with a statement scheduled for 2 p.m. EST, followed by President Jerome Powell’s press conference in 2:30 p.m. from AMZN,
+ 0,80%,
Google parent Alphabet Inc. GOOG,
+ 1,27%
+ 1,16%,
Facebook Inc. FB,
+ 0,81%
et Apple Inc. AAPL,
+ 1,42%.
In economic news, the United States’ trade deficit in goods fell 6.1% in June, as exports grew faster than imports, but the level of trade is still well below levels of a year ago due to the massive strain caused by the coronavirus. In other company news, Advanced Micro Devices Inc. shares AMD,
+ 13,85%
soared after the chipmaker announced second-quarter results Tuesday night that beat expectations and boosted its full-year forecast. Eastman Kodak Co. KODK Shares,
+ 382,52%
jumped 170% early Wednesday, extending its gains after announcing on Tuesday it was receiving government funds to make generic ingredients. Investors continue to pay attention to negotiations between Congressional Republicans, Democrats and the White House on another coronavirus bailout before the month-end expiration of supplementary unemployment benefits.


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