%20(3).png){kind=small}
![TFD [LOGO] (10).png](https://static.wixstatic.com/media/bea252_c1775b2fb69c4411abe5f0d27e15b130~mv2.png/v1/crop/x_150,y_143,w_1221,h_1193/fill/w_179,h_176,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/TFD%20%5BLOGO%5D%20(10).png)
Wall Street Stocks Rise Ahead Of Expected Fed Policy Update
- By The Financial District
- Jan 27, 2022
- 2 min read
Stocks gained ground in morning trading on Wall Street Wednesday as investors review a mostly solid round of earnings reports and await the Federal Reserve’s latest policy statement, Damian J. Troise reported for the Associated Press (AP).
Photo Insert: Apart from rejoicing over the market's rise, Wall Street also celebrated Australia Day 2022.
The decisive move higher was a welcome relief following several days of volatile swings as investors try to gauge whether the Fed will succeed in its new effort to fight inflation. The central bank widely expected to continue drawing back its stimulus measures ahead of raising interest rates in the coming months.
The Fed’s latest statement will be released later Wednesday.
The S&P 500 rose 1.6% as of 10:19 a.m. Eastern. The Dow Jones Industrial Average rose 372 points, or 1.1%, to 34,678 and the Nasdaq rose 2.2%. The gains pushed every major index into the green for the week.
Technology stocks led the market higher. Microsoft rose 4.1% after reporting standout results for its latest quarter on solid demand for its cloud-computing services and work software. Chipmaker Texas Instruments rose 4.6% after giving investors a solid earnings report and financial forecast.
Retailers, communications companies, banks and industrial firms also rose. Strong earnings reports and financial forecasts underpinned some of the gains. Specialty glassware Corning rose 13.5% after reporting strong financial results. Bond yields were steady.
The yield on the 10-year Treasury remained at 1.78% from late Tuesday. Several companies issued fresh warnings about supply chain problems crimping operations. Computer networking company F5 fell 12.5% after giving investors disappointing revenue forecast as it faces supply chain constraints.
Consumer products maker Kimberly-Clark fell 4.6% after giving investors a weak profit forecast and saying that it expects the supply chain disruption to persist into 2022.
