The Federal Reserve maintained interest rates unchanged, stating that US economic activity expanded stably and unemployment rate showed signs of stabilization. US bourse closed steady on Wednesday. The S&P 500 briefly hit a record high soon after the opening bell, crossing the 7,000-point mark for the first time, reaching a peak of 7,002. However, it closed slightly down by less than 1 point at 6,978. The Nasdaq added 40 points or 0.2% to 23,857. The DJIA held steady, slightly up by 12 points to 49,015.

NVIDIA (NVDA.US) may purportedly shift chip production to Intel (INTC.US). Intel rallied 11% at close, whereas NVIDIA rose 1.6%. Amazon (AMZN.US) confirmed the layoff of 16,000 employees and did not rule out further layoffs, with the stock initially growing but eventually closing down 0.7%.

Regarding earnings stocks, ASML (ASML.US) announced record-high orders, with its stock reaching a 52-week high before ebbing 2%. Storage infrastructure company Seagate (STX.US) reported second-quarter earnings and revenue beat, driven by strong AI data storage demand, which spurred a 19% surge in its stock price, making it the best performer among Nasdaq constituents.
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AASTOCKS Financial News
Website: www.aastocks.com

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