From BigGo Finance · BigGo Finance · · 1m 10s
Fed Holds Rates, December Hike Odds Jump
Fed keeps rates steady as December rate hike odds surge to 87%.
In brief
Fed keeps rates steady as December rate hike odds surge to 87%. The Federal Reserve held rates at 3.75%-4.00% while December rate hike odds rose to 87.4%. Originally reported by BigGo Finance.
Fed Holds Rates
The Federal Reserve held its benchmark rate at 3.75%-4.00% on Wednesday.
December Hike Odds Jump
Futures markets raised the odds of a quarter-point December increase to 87.4% from 78.3%.
Market Gains
The Dow rose 0.19%, the S&P 500 added 0.28% and the Nasdaq gained 0.27%.
SK Hynix Surge
SK Hynix ADRs jumped about 13% on quarterly operating profit more than seven times the prior-year level.
Oracle Guidance
Oracle climbed more than 10% after guiding fiscal 2030 revenue above $225 billion and capping additional fundraising.
Vertiv Gains
Vertiv gained 16.8% after beating quarterly expectations and raising full-year profit and revenue forecasts.
Other Moves
Micron rose 4.7%, Robinhood declined 3.9%, and Boston Scientific dropped 2.9%.
Energy Surge
WTI crude topped $100 a barrel after an attack on a Saudi refinery.
Chair Warsh
Chair Kevin Warsh said he does not believe in forward guidance and removed one rate decision from next year's calendar.
The one thing
The Federal Reserve held rates at 3.75%-4.00% while December rate hike odds rose to 87.4%.
