AP NEWS

Markets Right Now: Stocks climb after Fed cuts rates

October 30, 2019 GMT

NEW YORK (AP) — The latest on developments in financial markets (all times local):

4 p.m.

Stocks rose broadly after the Federal Reserve lowered interest rates for the third time this year.

The gains Wednesday were enough to push the S&P 500 to its second record high this week.

Fed Chairman Jerome Powell signaled Wednesday the central bank will likely forgo additional cuts as long as economic growth and inflation matches the Fed’s outlook.

General Electric jumped 11.5% after raising its forecast for a key measure of profitability.

The S&P 500 rose 9 points, or 0.3%, to 3,046.

The Dow Jones Industrial Average rose 115 points, or 0.4%, to 27,186. The Nasdaq rose 27 points, or 0.3%, to 8,303.

Small-company stocks fell.

Bond prices rose. The yield on the 10-year Treasury fell to 1.77%.

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11:45 a.m.

Stocks are slipping in midday trading on Wall Street as traders hold back ahead of an interest rate announcement from the Federal Reserve.

A number of individual companies were making big moves Wednesday after reporting their latest quarterly results.

General Electric jumped 10.6% after raising its forecast for a key measure of profitability, an encouraging sign that CEO Larry Culp’s plan to remake the industrial giant is making progress.

The Federal Reserve releases its latest decision on interest rates later Wednesday afternoon.

The S&P 500 fell 3 points, or 0.1%, to 3,032.

The Dow Jones Industrial Average lost 23 points, or 0.1%, to 27,048. The Nasdaq fell 14 points, or 0.2%, to 8,262.

Bond prices rose. The yield on the 10-year Treasury fell to 1.80%.

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9:35 a.m.

Stocks are slipping in early trading on Wall Street as traders hold back ahead of an interest rate announcement from the Federal Reserve.

A number of individual companies were making big moves in early trading Wednesday after reporting their latest quarterly results.

General Electric jumped 9% after raising its forecast for a key measure of profitability, an encouraging sign that CEO Larry Culp’s plan to remake the industrial giant is making progress.

The Federal Reserve releases its latest decision on interest rates later Wednesday afternoon.

The S&P 500 fell 3 points, or 0.1%, to 3,032.

The Dow Jones Industrial Average lost 32 points, or 0.1%, to 27,041. The Nasdaq fell 17 points, or 0.2%, to 8,257.

Bond prices didn’t move much. The yield on the 10-year Treasury held steady at 1.83%.