On Wednesday, the Federal Reserve unanimously held the federal funds rate steady at 3.50%-3.75%, as widely expected, in the first policy meeting under new Fed Chair Kevin Warsh. He announced five task forces to review Fed communications, the balance sheet, data sources, productivity and jobs in the AI era, and the inflation framework itself.
Thursday will mark the last trading day of this week, as the markets will be closed for Juneteenth National Independence Day on Friday.
Meanwhile, the 10-year Treasury bond yielded 4.45%, and the two-year bond was at 4.17%. The CME Group's FedWatch tool‘s projections show markets pricing a 72.2% likelihood of the Federal Reserve leaving the current interest rates unchanged during July’s meeting.
Index
Performance (+/-)
Dow Jones
0.52%
S&P 500
0.86%
Nasdaq 100
1.47%
Russell 2000
1.05%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Thursday. The SPY was up 0.71% at $746.20, while the QQQ advanced by 1.59% to $734.00.
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Stocks In Focus
SpaceX
Space Exploration Technologies Corp. (NASDAQ:SPCX) rose 0.36% in premarket on Thursday after it closed lower for the first time since its listing on its fourth trading day, on Wednesday.
Smith & Wesson Brands
Smith & Wesson Brands Inc. (NASDAQ:SWBI) surged 15.37% after posting better-than-expected fourth-quarter results after Wednesday’s closing bell.
Benzinga’s Edge Stock Rankings indicate that SWBI maintains a strong price trend in the long and medium terms but a weak trend in the short term, with a poor growth score.
Safe Bulkers
Safe Bulkers Inc. ...
