S&P 500, Dow Jones edge up, Nasdaq dips in cautious market ahead of Fed

Apr. 27, 2021 4:05 PM ETS&P 500 Index (SP500), DJISP500, COMP.IND, DJIBy: Kim Khan, SA News Editor3 Comments
  • The major averages couldn't get much going a day before the FOMC decision and Fed chief Jerome Powell's press conference.
  • The S&P 500 (SP500) +0.1% edged up thanks to some late buying and the Dow (DJI) +0.1% ended higher, lifted by price moves in McDonald's and Goldman Sachs.
  • The Nasdaq (COMP.IND) -0.3% lagged in the face of higher yields.
  • The 10-year Treasury yield rose 6 basis points to 1.63%, the highest in two weeks, following an auction of 7-year notes that came in about as expected, tailing by 0.1 basis point.
  • The megacap stocks were mixed, with Tesla the weakest following its earnings after the bell yesterday and CEO Elon Musk describing "insane difficulties" with supply chains.
  • Amazon continued to gain on stock split rumors and a frenzy in options.
  • UPS was the top gainer in the S&P, with FedEx not far behind, after it posted quarterly numbers strong enough to lift the entire sector.
  • Tomorrow, investors will be looking to how long Powell's patience will last and for any hints on tapering.

Recommended For You

Comments (3)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.