Bill McColl
2 min read
In This Article:
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U.S. equities rose at midday ahead of the latest announcement from the Federal Reserve, as President Donald Trump again called on Fed Chair Jerome Powell to cut interest rates.
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Jabil and Oracle shares gained as analysts boosted their price targets.
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A downgrade from Stifel sent Zoetis shares lower.
U.S. equities were higher at midday as President Donald Trump again called on Federal Reserve Chair Jerome Powell to cut interest rates ahead of today's Fed decision. The Dow Jones Industrial Average, S&P 500, and Nasdaq all gained.
Jabil (JBL) shares kept adding to their all-time highs when UBS increased its price target by a third, noting that soaring demand for artificial intelligence (AI) products is boosting sales for the electronic equipment firm.
A higher price target from Guggenheim sent shares of Oracle (ORCL) up. The analysts argued the software maker's revenue will soar in the next two fiscal years.
Shares of USDC stablecoin issuer Circle Internet Group (CRCL) advanced after the Senate passed legislation on stablecoins, and that also lifted shares of JPMorgan Chase (JPM), which just announced its own stablecoin-like digital currency yesterday.
Zoetis (ZTS) shares fell on a downgrade from Stifel, which said competition will limit revenue for the manufacturer of drugs and vaccines for animals.
Shares of Allstate (ALL) declined when the insurer estimated it had $777 million in catastrophic losses last month.
Steel Dynamics (STLD) shares dipped after the steelmaker gave weaker-than-anticipated current-quarter profit guidance, although the company did provide a positive outlook for its steel and aluminum operations.
Oil futures slid. Gold prices were little changed. The yield on the 10-year Treasury note dropped. The U.S. dollar lost ground to the euro, pound, and yen. Major cryptocurrencies were mixed, with bitcoin edging higher.
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