WASHINGTON (dpa-AFX) - Stocks have shown a lack of direction over the course of the trading session on Wednesday, with the major averages bouncing back and forth across the unchanged line following the modest pullback seen during trading on Tuesday.
Currently, the major averages are turning in a mixed performance. While the Dow is down 52.92 points or 0.1 percent at 44,580.07, the S&P 500 is up 5.93 points or 0.1 percent at 6,376.79 and the Nasdaq is up 62.55 points or 0.3 percent at 21,160.84.
The choppy trading on Wall Street comes as traders seem reluctant to make significant moves ahead of the Federal Reserve's monetary policy announcement this afternoon.
While the Fed is widely expected to leave interest rates unchanged, the announcement could impact the outlook for rates.
Investors are also looking ahead to the release of earnings news from Magnificent Seven members Microsoft (MSFT) and Meta Platforms (META) after the close of today's trading.
The Labor Department's monthly jobs report also remains on traders' minds along with President Donald Trump's August 1st tariff deadline.
Trump announced in a post on Truth Social this morning that a 25 percent tariff will be imposed on imports on India beginning on Friday.
In U.S. economic news, payroll processor ADP released a report showing private sector employment in the U.S. increased by more than expected in the month of July.
The report said private sector employment jumped by 104,000 jobs in July after slipping by a revised 23,000 jobs in June.
Economists had expected private sector employment to climb by 78,000 jobs compared to the dip of 33,000 jobs originally reported for the previous month.
The Commerce Department also released a report showing the U.S. economy rebounded by more than expected in the second quarter of 2025.
The report said real gross domestic product surged by 3.0 percent in the second quarter after falling by 0.5 percent in the first quarter. Economists had expected GDP to jump by 2.5 percent.
The rebound by real GDP in the second quarter primarily reflected a decrease in imports, which are a subtraction in the calculation of GDP, and an increase in consumer spending, the Commerce Department said.
Sector News
Most of the major sectors are showing only modest moves on the day, contributing to the lackluster performance by the broader markets.
Transportation stocks have shown a substantial move to the downside, however, with the Dow Jones Transportation Average tumbling by 2.6 percent.
Energy and gold stocks are also seeing notable weakness on the day, while networking and utilities stocks have moved to the upside.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region turned in another mixed performance on Wednesday. Japan's Nikkei 225 Index edged down by 0.1 percent and Hong Kong's Hang Seng Index slumped by 1.4 percent, while China's Shanghai Composite Index crept up by 0.2 percent.
The major European markets have also turned mixed on the day. While the U.K.'s FTSE 100 Index is down by 0.1 percent, the German DAX Index is up by 0.3 percent and the French CAC 40 Index is up by 0.4 percent.
In the bond market, treasuries are giving back ground after moving notably higher in the previous session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 4.2 basis points at 4.370 percent.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
