US stocks were somewhat higher during the mid-trading session; the S&P 500 was up 0.08 percent at 6133.82. At 14:01 ET, the Dow Jones was down 0.25 percent at 44,445.35.
According to meeting minutes made public on Wednesday, Federal Reserve officials voiced worries about President Donald Trump’s tariffs affecting decreasing interest rates. They agreed that they wanted to see more drops in inflation before doing so.
A “high degree of uncertainty” in the economy was also noted in the minutes, highlighting the need for the Fed to “take a careful approach” in assessing any future changes to its benchmark interest rate.
Super Micro Computers, Garmin Limited, Microchip Technology Inc., Analog Devices Inc., ON Semiconductor Corp., and others were the top gainers during the S&P 500 trading session.
Celanese Corp, Axon Enterprise Inc., Cadence Design Systems, and Intel Corp. were the biggest losers in the S&P 500 trading session.
After nearly two decades of study, Microsoft released its first quantum computing chip, Majorana 1, which caused its shares to rise 0.6 percent to $412.01 at 14:12 ET. “This breakthrough brings quantum computers capable of solving complex, real-world problems closer to reality—possibly just years away rather than decades,” the business said in its release.
Following the release of the dating app company’s lower-than-expected first-quarter sales prediction, Bumble’s stock dropped 27% during the trading session. The business expects Q1FY25 sales to be between $242 million and $248 million, less than the $257.2 million analysts predicted.
Shares of Occidental Petroleum, which Warren Buffett owns, increased by more than 4% during the trading session after the company exceeded fourth-quarter profit forecasts and announced that it had met its short-term debt reduction target.
