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Nasdaq Scores Triple-Digit Pop as Wall Street Eyes Fed Decision

Schaeffer's Investment Research
 2021-07-28

Cover picture for the articleIt was a mixed day for markets. The tech-heavy Nasdaq landed a triple-digit gain with support from upbeat earnings in the tech space, while the S&P 500 settled quietly lower, and the Dow ended the day with an 127-point drop. The long-awaited conclusion of the The Federal Open Market Committee's (FOMC) two-day policy meeting grabbed Wall Street's attention this afternoon. The Fed said it is keeping interest rates near zero, as expected, adding that the economy is not yet strong enough to stand a tighter monetary policy. Meanwhile, the U.S. trade deficit in goods rose 3.5% in June to a record $91.2 billion.

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