Stock Market Today: Stocks Pop Then Drop After Fed Meeting
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Stocks were mixed in the lead-up to this afternoon’s policy announcement from the Fed as investors mulled over several earnings and economic reports. But the main indexes made a beeline higher after Federal Reserve Chair Jerome Powell said he doesn’t expect any additional rate hikes.
The earnings calendar was jam-packed with a number of high-profile companies, including e-commerce giant Amazon.com (AMZN). The company’s first-quarter results did not disappoint, with AMZN reporting higher-than-expected earnings and revenue thanks to 17% sales growth in its Amazon Web Services (AWS) cloud segment.
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