S&P 500 gyrates as investors digest Fed decision, trade outlook and earnings: Live updates

The ticked higher in choppy trading after the Federal Reserve signaled that the risks for an economic slowdown and higher prices are increasing.

The broad market index added 0.1%, while the shed about 0.3%. The traded 237 points higher, or 0.6%, helped by a pop in shares.

As expected, the Federal Open Market Committee in a range between 4.25%-4.5%, where it has been since December.

"The Committee is attentive to the risks to both sides of its dual mandate and judges that the risks of higher unemployment and higher inflation have risen," the post-meeting statement read.

Wednesday's announcement coincides with increasing worries that a global trade war could send prices higher, complicate the central bank's path toward bringing inflation down to its 2% goal.

Fed Chair Jerome Powell said during his post-decision press conference that if the "large increases in tariffs" that have been announced remain at their current levels, they could lead to a slowdown in economic growth, an uptick in long-term inflation and an increase in unemployment.

The Fed announcement is "sending a shot across the bow to the administration, saying essentially if you read between the lines, 'Your policies are leading to higher inflation, higher unemployment,'" said David Kelly, chief global strategist at JPMorgan Asset Management, in a C온라인카지노사이트 "Power Lunch interview. "This is a somewhat hawkish statement. It says, 'We are not going to be in any hurry to cut rates because honestly there are risks to both sides of our mandate here and we are not sure which way we should be playing this.'"

President Donald Trump told reporters on Wednesday that he would not lower the steep tariffs on China as a condition to begin trade negotiations. His statement came ahead of meetings set to take place this weekend in Switzerland between Trump administration members and Chinese officials to discuss trade matters.

Also pressuring the market were declines in major tech stocks. Shares of and dropped about 8% and 1.5% in afternoon trading after Apple's services chief said the company is looking to add artificial intelligence services as search options in Apple's Safari browser in the future, which could potentially end the company's partnership with Google, per a Bloomberg .

Powell acknowledges increasing uncertainty, downside risks

Fed Chair Jerome Powell acknowledged rising headwinds to the central bank's dual mandate on Wednesday.  

"My gut tells me that uncertainty about the economy is extremely elevated. The downside risks have increased," Powell told reporters. 

However, he added, "The risks of higher unemployment and higher inflation have risen, but they haven't materialized yet. … And that tells me more than my intuition," reiterating the Fed's decision to keep interest rates unchanged.

— Hakyung Kim

Regional banks turn negative for third straight day

The turned negative Wednesday afternoon. It was last trading down 0.1%. 

Park National, Oceanfirst Financial and Preferred Bank all traded down more than 1% each. 

This puts the KRE on pace for its third straight negative session. 

— Hakyung Kim

Trump says he will not lower China tariffs ahead of negotiations

President Donald Trump told reporters Wednesday that he would not lower tariffs on China as a condition to begin trade negotiations. Members of Trump's team are set to meet with Chinese officials in Switzerland this weekend to discuss trade matters.

The U.S. president also indicated that fentanyl was still a key issue in any potential discussions.

"They have to stop fentanyl from coming in. That'll be a very big part," Trump said.

— Jesse Pound, Laya Neelakandan

Alphabet, Apple shares sink after Apple’s Cue says AI will replace search engines

Shares of and dropped about 8.5% and 2.5%, respectively, after Eddy Cue, Apple's services chief, said he believes that AI search engines will eventually replace standard search engines such as Google, per Bloomberg.

Cue is eyeing AI services from OpenAI, Perplexity and Anthropic as potential search options in Apple's Safari browser in the future, he said as he was testifying in a federal court in Washington as part of the Justice Department's lawsuit against Alphabet. The executive noted that searches on Safari declined for the first time in April.

For more, read .

— Pia Singh

Fed keeps rates unchanged, as expected

The Federal Reserve kept interest rates unchanged, as was widely expected, as central bank officials along with rising uncertainty around the U.S. economic outlook.

"The Committee is attentive to the risks to both sides of its dual mandate and judges that the risks of higher unemployment and higher inflation have risen," the FOMC's post-meeting statement said.

— Fred Imbert

Greenback jumps more than 1% versus Taiwan dollar

The U.S. dollar strengthened 1.3% against the Taiwan dollar Wednesday to trade at 30.37, building upon the greenback's 3% relative advance on Tuesday. 

The downward moves come after the Taiwanese dollar appreciated 9% on Monday and the prior Friday, hitting a new three-year high. 

The greenback still remains more than 5% lower versus the Taiwan dollar over the last week. 

The greenback also gained 1.2% against the Korean won on Wednesday. The won remains 2.8% higher relative to the dollar over the last week. 

— Hakyung Kim

Stocks making the biggest midday moves: Alphabet, Disney and more

These are the stocks moving the most in midday trading:

•  — The tech behemoth fell 8%. Eddy Cue, senior vice president of services at Apple, said on Wednesday that Apple was "actively looking at"  to focus on AI-powered search functions, according to a .
•  — The entertainment giant climbed 11% after reporting  of $1.45 per share, beating the $1.20 per share analysts polled by LSEG had expected.
•  — The cloud computing stock dropped 6% after narrowly beating LSEG first-quarter revenue estimates, but managing a solid beat on the bottom line.

Read the full list of stocks moving .

— Lisa Kailai Han

Used vehicle pricing barometer jumps to highest level since 2023

A closely watched to its highest level since October 2023 as consumers bought up used cars amid fears of tariff-driven price hikes.

Cox Automotive's  — which tracks prices of used vehicles sold at its U.S. wholesale auctions — increased 4.9% last month compared with a year earlier to a level of 208.2. It also marked a 2.75 increase from March, which is a huge jump compared to a historically typical month-to-month index move of 0.2%, according to the auto data and logistics firm.

While the tariffs of 25% on new imported vehicles and many parts do not directly impact used car sales, the used car market is affected by changes in new vehicle prices, production and demand.

Notably, one stock benefitting from this trend is . The online used car sales giant has seen its shares climb more than 28% this year.

— Pia Singh, Michael Wayland

Economic data has 'stolen the thunder' from Fed meeting, Morgan Stanley investor says

Vishal Khanduja, head of broad markets fixed income at Morgan Stanley Investment Management, told C온라인카지노사이트 Wednesday that the latest economic updates means that tariff discussions are higher up on the priority list for investors than the Federal Reserve meeting.

"The data over the last two weeks, the hard data if you will ... has almost stolen the thunder from this Fed meeting. I think the more important part will be Treasury Secretary Bessent and what his conversations are over the weekend," Khanduja said.

That data includes an April jobs report that came in stronger than expected.

Traders will be looking for clues about the Fed's "reaction function," or how quickly the central bank will react to any sign of economic weakness, Khanduja said.

— Jesse Pound

Charles River, Rockwell Automation led S&P 500 up

and led the higher on Wednesday after earnings topped Wall Street expectations.

Charles River popped more than 16% after earning $2.34 per share, excluding items, on $984.2 million. Analysts polled by FactSet estimated $2.07 per share and $941.9 million.

Rockwell Automation popped more than 10%. The company earned $2.45 per share, excluding items, and $2 billion in revenue, surpassing FactSet consensus expectations of $2.10 per share and $1.97 billion, respectively.

— Alex Harring

Bank of America upgrades Honeywell International to buy rating

Bank of America upgraded shares of to a buy rating from neutral. Analyst Andrew Obin simultaneously lifted his price objective for the conglomerate to $250 from $210.

Shares of Honeywell have shed 7% in 2025. Obin's updated forecast is approximately 19% above the stock's Tuesday closing price.

As a catalyst, Obin pointed to Honeywell's "more defensive" business mix — compared to its high quality industrial peers — which looks especially compelling against the existing macroeconomic backdrop. He added that Honeywell's valuation also looks good at its current levels.

"Honeywell is one of the most discounted names in our coverage on a terminal growth basis," the analyst wrote. "Shares have underperformed the index in the past two years due to negative earnings revisions as the company failed to meet investor expectations. As we believe earnings have now stabilized, we believe the company can start to close some of the valuation gap vs. peers."

— Lisa Kailai Han

Stocks open higher on Wednesday

Shortly after the opening bell, the  gained 145 points, or 0.4%. The  added 0.1%, and the  hovered above the flatline.

— Pia Singh

Credit card data shows hints of consumer spending slowdown

Credit card data paints a mixed picture of the U.S. consumer in April, with some hints that spending is slowing down.

JPMorgan analyst Richard Shane said in a note to clients that the total Chase Spending data for the month was up 2.3% year over year through April 29. However, that was slower than March's growth of 2.7%, though Shane noted that the slowdown appears to be in part due to the falling price of gas.

"In the most recent 30 days, there were 10 days where spending was more than 15bps above the YTD average and 15 days where spending was at least 15bps below the YTD average," the JPMorgan note said.

At Citi, analyst Paul Lejuez said that credit card data showed a decline in consumer during the three month period of February to April, which many retail companies use as their first fiscal quarter. However, spending did end April on a strong note in the Citi data, Lejuez said.

— Jesse Pound

Stocks making the biggest moves premarket

Check out some of the companies making headlines in premarket trading.

• — Shares of the media and entertainment company advanced more than 7% after surpassing Wall Street's second-quarter estimates. Disney reported adjusted earnings per share of $1.45 on revenue of $23.62 billion, while analysts polled by LSEG were looking for $1.20 per share and $23.14 billion, respectively. The company also raised its full-year earnings outlook to $5.75 per share, while Wall Street was looking for $5.43 per share. Separately, Disney agreed to partner with Miral to build .

• — The stock pulled back more than 6% after the server maker and offered weak guidance for the current quarter. Super Micro posted adjusted earnings of 31 cents per share on revenue of $4.6 billion, while analysts surveyed by LSEG had penciled in 50 cents per share and $5.42 billion in revenue.

• — Shares of the hotel and casino company rose about 3% after an upgrade to buy from neutral at Bank of America that focused on the company's casino project in the Middle East. The move came despite Wynn's first-quarter report that showed weak results in Macao. Las Vegas revenue saw smaller declines. Wynn earned $1.07 per share after adjustments in the latest quarter, below the $1.19 per share expected by analysts, according to LSEG.

Read the full list .

— Brian Evans

Disney shares pop after company reports earnings beat, subscriber growth

posted fiscal second-quarter earnings that exceeded Wall Streets expectations, leading shares more than 6% higher in premarket trading Wednesday. The entertainment and streaming giant saw better-than-expected subscriber growth for its Disney+ streaming platform.

For the period ending March 29, Disney reported:

• Earnings per share: $1.45 adjusted vs. $1.20 expected
• Revenue: $23.62 billion vs. $23.14 billion

The company lifted some of its fiscal 2025 guidance and posted revenue growth in all three of its business segments. For more on Disney's results, read .

Disney shares are down about 17% year to date.

— Pia Singh, Sarah Whitten

Uber shares dip on first-quarter revenue miss

Shares of dropped more than 3% in premarket trading after the ride-hailing company missed first-quarter revenue expectations.

Uber posted earnings per share of 83 cents on revenue of $11.53 billion, while analysts polled by LSEG expected earnings of 50 cents per share on revenue of $11.62 billion.

Revenue at Uber grew about 14% in the first three months of 2025, up from $10.13 billion during the same period in 2024. The company also said that its "monthly active platform consumers" saw year-over-year growth and that users booked around 3.04 billion "trips" during the first quarter of 2025, up 18% from the first quarter of 2024. For more on Uber's results, read .

Uber shares are up roughly 42% this year, significantly outperforming the broader market.

— Pia Singh, Lora Kolodny

Novo Nordisk jumps on strong Wegovy guidance

Shares of jumped more than 5% after the drugmaker said it sees sales of its Wegovy weight loss medication improving the second half of 2025. "Compounders took a part of our business away," . "We now expect that compounding will be knocked off, so to say, and we get that business growth going forward." 

— Fred Imbert

Volatility to increase again amid continuing uncertainty, says TCW CEO Katie Koch

TCW CEO Katie Koch expects the rockiness to return to the markets as investors continue to digest economic data.

"There will be a lot of uncertainty," she said in an interview with C온라인카지노사이트's Sara Eisen from the sidelines of Tuesday. "This is a process and it's going to take time. We are going to continue to get a series of conflicting data points."

"We've got a lot of dry powder and we're excited for the opportunity to lean in when that happens," she added.

The path of the economy can range anywhere from a soft landing to a recession to stagflation, Koch said. At the moment, she said a recession is possible but is too difficult to predict.

In the meantime, selectivity is key across the board, she said. In equities, there are some bottom-up opportunities and in private credit, she sees an opportunity in rescue financing. Still, longer term, Koch still believes in the artificial intelligence revolution and the shortage of energy to support it.

"Do I think there is massive wealth creation opportunities in equity markets by allocating capital to AI and energy? 100%," Koch said. "I just think in the near term we've got a lot of volatility that we'll have to weave through."

— Michelle Fox

Stock futures rise on announcement of U.S.-China trade talks

Stock futures rallied after U.S. government spokespeople said that U.S. Treasury Secretary Scott Bessent and top trade official Jamieson Greer with their Chinese counterparts this week in Switzerland.

Investors can take this as an indicator of forthcoming developments on trade negotiations after President Donald Trump's tariff announcement last month ratcheted up volatility in the market.

— Alex Harring, Kevin Breuninger

Stocks making the biggest moves after hours

These are some of the stocks making the biggest moves in extended trading:

•  — Shares slid about 5% after the server maker  for the third fiscal quarter and gave a weak outlook for the current three-month period. Super Micro reported earnings 31 cents per share, excluding items, and $4.60 billion in revenue. Analysts polled by LSEG called for 50 cents a share and $5.42 billion in revenue.
•  — The chipmaker surged nearly 4% on the back of a stronger-than-predicted  for the first quarter. AMD reported earnings of 96 per share, excluding items, on revenues of $7.44 billion, while analysts had projected 94 cents per share and $7.13 billion.
•  – Shares of the casino operator fell 2% on weak first-quarter earnings. Adjusted earnings came in at $1.07 per share on revenue of $1.70 billion, missing the LSEG consensus estimates for $1.19 per share in earnings and $1.74 billion in revenue.

— Alex Harring

Stock futures are down

Stock futures ticked lower shortly after 6 p.m. ET.

Dow and S&P 500 futures each fell 0.2%. Nasdaq 100 futures pulled back 0.3%.

— Alex Harring