NEW YORK: Wall Street stocks mostly fell early Wednesday ahead of a Federal Reserve decision on interest rates and earnings from Microsoft, Tesla and other tech heavyweights.
Investors were in wait-and-see mode ahead of the rate decision from the US central bank. While there is broad consensus that the Fed will leave interest rates unchanged, Chair Jerome Powell will likely be asked about pressure from Donald Trump to cut them.
The earnings from tech heavyweights – IBM and Facebook parent Meta are also releasing results – come on the heels of revelations about China’s DeepSeek that have raised questions about the lofty valuations for US artificial intelligence stocks.
Wall St stabilizes after choppy start as AI stocks recover
About 15 minutes into trading, the Dow Jones Industrial Average was up 0.1 percent at 44,879.49.
The broad-based S&P 500 dipped 0.3 percent to 6,048.45, while the tech-rich Nasdaq Composite Index dropped 0.6 percent to 19,615.12.
Among individual companies, Starbucks shot up 5.3 percent after reporting lower profits in results that beat expectations. New CEO Brian Niccol expressed confidence about restoring growth at the coffee chain.
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