U.S. indices rallied sharply into Wednesday's close after the Federal Reserve announced it would raise the key interest rate by 50 basis points.
The Federal Reserve raised its target fed funds rate by 0.5% to a new range of between 0.75% and 1.0%, its first rate hike of at least half a percentage point in more than 20 years. The Fed also said it will begin reducing the size of its balance sheet starting on June 1... Read More
- The Nasdaq composite finished higher by 3.19% to 12,964; The Invesco QQQ Trust Series 1 (NASDAQ:QQQ) gained 3.38% to $329.60
- The S&P 500 traded higher by 2.99% to 4,300; The SPDR S&P 500 ETF Trust (NASDAQ:SPY) gained 3.03% to $428.99
- The Dow Jones composite finished higher by 2.79% to 11,669; The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ:DIA) finished higher by 2.82% at $340.59
Here are some of the day's winners and losers, according to data from Benzinga Pro.
Starbucks Corporation (NASDAQ:SBUX), Advanced Micro Devices, Inc. (NASDAQ:AMD) and Match Group Inc (NASDAQ:MTCH) were among the top gainers for the Nasdaq-100.
Skyworks Solutions Inc (NASDAQ:SWKS), IDEXX Laboratories, Inc. (NASDAQ:IDXX) and Verisk Analytics, Inc. (NASDAQ:VRSK) were among the top losers for the QQQ.
Elsewhere On The Street
Benzinga’s weekly Stock Wars matches up two leaders in a major industry sector with the goal of determining which company is the better investment. This week, the duel is between two electric vehicle charging station manufacturers... Read More
Walt Disney Co (NYSE:DIS) has a big May ahead for investors and fans with several new items being released and announced and quarterly earnings on deck. Here's a look at what’s in store... Read More
Trivago N.V. (NASDAQ:TRVG) has traded lower since reporting financial results on Monday despite the company's optimism surrounding travel trends... Read More
