US Stocks Little Changed After Fed Holds Rates Steady; Earnings Reports Impact Tech Giants

Federal Reserve Decision and Market Reaction

• 📊 US stocks closed with minimal change on Wednesday, with the Dow and S&P 500 near break-even and the Nasdaq showing a slight advance.
• 📌 The Federal Reserve announced it would keep interest rates unchanged, providing little immediate indication on when borrowing costs might decrease.
• 🎯 Dean Smith of Folio Beyond suggests the Fed believes it has achieved a soft landing, noting that inflation is not accelerating and the labor market has stabilized around full employment.

Key Company Earnings and Stock Movements

• 📈 Meta shares rose 10% in extended trading after forecasting increased annual capital expenditures for artificial intelligence infrastructure.
• 📉 Microsoft experienced a 7% decline despite boosting AI spending and slightly exceeding revenue estimates, particularly in its cloud business.
• 🚗 Tesla shares increased by 3%, with the company confirming investments in Elon Musk's AI company XAI and affirming production timelines for its cyber cab, robo taxi, and semi-trucks.
• 💡 Texas Instruments stock jumped 10% after forecasting first-quarter revenue and profit above Wall Street's expectations.
• 📞 AT&T shares gained over 4.5% following the US carrier's projection of annual profit exceeding market expectations.