QQQ   280.53 (-0.41%)
AAPL   140.94 (-1.38%)
MSFT   244.37 (-0.31%)
META   113.93 (-0.17%)
GOOGL   94.94 (-2.10%)
AMZN   88.46 (+0.24%)
TSLA   174.04 (-3.21%)
NVDA   161.20 (+0.83%)
NIO   12.58 (-4.98%)
BABA   88.33 (-3.41%)
AMD   70.14 (-0.19%)
T   19.30 (+0.68%)
MU   53.82 (+0.26%)
CGC   3.24 (-10.25%)
F   13.10 (-1.36%)
GE   85.00 (-0.33%)
DIS   92.15 (-0.15%)
AMC   6.05 (-10.37%)
PYPL   74.42 (+3.03%)
PFE   50.24 (+1.07%)
NFLX   308.42 (+0.94%)
QQQ   280.53 (-0.41%)
AAPL   140.94 (-1.38%)
MSFT   244.37 (-0.31%)
META   113.93 (-0.17%)
GOOGL   94.94 (-2.10%)
AMZN   88.46 (+0.24%)
TSLA   174.04 (-3.21%)
NVDA   161.20 (+0.83%)
NIO   12.58 (-4.98%)
BABA   88.33 (-3.41%)
AMD   70.14 (-0.19%)
T   19.30 (+0.68%)
MU   53.82 (+0.26%)
CGC   3.24 (-10.25%)
F   13.10 (-1.36%)
GE   85.00 (-0.33%)
DIS   92.15 (-0.15%)
AMC   6.05 (-10.37%)
PYPL   74.42 (+3.03%)
PFE   50.24 (+1.07%)
NFLX   308.42 (+0.94%)
QQQ   280.53 (-0.41%)
AAPL   140.94 (-1.38%)
MSFT   244.37 (-0.31%)
META   113.93 (-0.17%)
GOOGL   94.94 (-2.10%)
AMZN   88.46 (+0.24%)
TSLA   174.04 (-3.21%)
NVDA   161.20 (+0.83%)
NIO   12.58 (-4.98%)
BABA   88.33 (-3.41%)
AMD   70.14 (-0.19%)
T   19.30 (+0.68%)
MU   53.82 (+0.26%)
CGC   3.24 (-10.25%)
F   13.10 (-1.36%)
GE   85.00 (-0.33%)
DIS   92.15 (-0.15%)
AMC   6.05 (-10.37%)
PYPL   74.42 (+3.03%)
PFE   50.24 (+1.07%)
NFLX   308.42 (+0.94%)
QQQ   280.53 (-0.41%)
AAPL   140.94 (-1.38%)
MSFT   244.37 (-0.31%)
META   113.93 (-0.17%)
GOOGL   94.94 (-2.10%)
AMZN   88.46 (+0.24%)
TSLA   174.04 (-3.21%)
NVDA   161.20 (+0.83%)
NIO   12.58 (-4.98%)
BABA   88.33 (-3.41%)
AMD   70.14 (-0.19%)
T   19.30 (+0.68%)
MU   53.82 (+0.26%)
CGC   3.24 (-10.25%)
F   13.10 (-1.36%)
GE   85.00 (-0.33%)
DIS   92.15 (-0.15%)
AMC   6.05 (-10.37%)
PYPL   74.42 (+3.03%)
PFE   50.24 (+1.07%)
NFLX   308.42 (+0.94%)

Stocks gain ground on Wall Street ahead of US holiday


The New York Stock Exchange on Wednesday, June 29, 2022 in New York. (AP Photo/Julia Nikhinson, File)

Stocks closed higher on Wall Street following the release of the minutes from the Federal Reserve’s most recent policy meeting, which showed Fed officials agreed that smaller rate hikes would likely be appropriate “soon.” The S&P 500 rose 0.6% Wednesday, the Nasdaq added 1% and the Dow climbed 0.3%. Deere rose after the equipment maker reported higher earnings than analysts were expecting. Long-term Treasury yields were slightly lower. Oil prices fell, European markets closed mostly higher and Asian markets closed mixed overnight. U.S. markets will be closed Thursday for Thanksgiving and will close early on Friday.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

Stocks were higher on Wall Street in afternoon trading Wednesday, after the minutes from the Federal Reserve's most recent policy meeting showed central bank officials agreed that smaller rate hikes would likely be appropriate “soon.”

That's likely to stoke optimism among investors who have been trying to gauge how soon the central bank would begin to dial back their aggressive pace of rate hikes in its campaign to lower inflation.

Stock indexes edged higher following the 2:00 p.m. Eastern release of the minutes from the central bank’s meeting. The S&P 500 was up 0.6% as of 3:05 p.m. Eastern. The Dow Jones Industrial Average rose 117 points, or 0.3%, to 34,215 and the Nasdaq composite was up 1%.

At the meeting early this month, the Fed officials expressed uncertainty about how long it might take for their rate hikes to slow the economy enough to tame inflation. At a news conference following the Nov. 1-2 meeting, Chair Jerome Powell stressed that that the Fed wasn't even close to declaring victory in its fight to curb high inflation. Other Fed officials have signaled in recent weeks that additional hikes are still needed.

Still, the minutes show Fed officials also agreed that smaller rate hikes “would likely soon be appropriate.″


“Markets continue to hold onto gains as the Fed minutes reinforce what Fed speakers have been telegraphing since the November 1-2 meeting,” said Quincy Krosby, chief global strategist for LPL Financial. “That is that the Fed is stepping down in terms of rates, from the aggressive campaign of 75 basis points to 50 basis points most likely at the December 13-14 meeting.”

The central bank’s benchmark rate currently stands at 3.75% to 4%, up from close to zero in March. It has warned that it may have to ultimately raise rates to previously unanticipated levels to cool the hottest inflation in decades.

During their meeting, Fed officials also expressed uncertainty about how long it might take for their rate hikes to tame inflation, though some expressed hope that falling commodity prices and the unsnarling of supply chain bottlenecks “should contribute to lower inflation in the medium term.’’

Wall Street has been closely watching the latest economic and inflation data for any signs that might allow the Fed to ease up on future rate increases. Investors are worried that the Fed could slam the brakes too hard on economic growth and bring on a recession.

Consumer spending and the employment market have so far remained strong points in the economy. That has helped as a bulwark against a recession, but also means the Fed may have to remain aggressive.

The number of Americans applying for unemployment benefits rose last week to the highest level since August, but the figure still remains low by historic standards. A November survey from the University of Michigan shows that consumer sentiment grew from October by more than economists had expected.

The housing market has been slowing this year under the combination of sharply higher mortgage rates and still-rising home prices. Still, the government's latest snapshot of the new-home market was encouraging. Sales of new U.S. homes rose in October, while economists polled by FactSet expected a decline from September. Homebuilders gained ground. Lennar rose 1.6%.

The average rate on a 30-year mortgage edged lower for the second time in as many weeks, though it remains more than double what it was a year ago, a significant hurdle for many would-be homebuyers.

Technology stocks and some big retailers led the gains Wednesday. Chipmaker Nvidia rose 2.6% and Target rose 3.3%.

Farming equipment maker Deere gained 5.2% after reporting stronger financial results than analysts were expecting.

Crude oil prices fell 3.7% and weighed down energy stocks. Hess fell 2.3%.

Long-term Treasury yields fell. The yield on the 10-year Treasury, which influences mortgage rates, slipped to 3.71% from 3.76%.

European markets closed mostly higher and Asian markets closed mixed overnight.

Trading has been unsteady during the holiday-shortened week, but major indexes are on track for weekly gains. U.S. markets will be closed Thursday for Thanksgiving and will close early on Friday.

7 Battery Stocks That Will Make You a Millionaire by 2030

You can't watch television for any length of time without seeing a commercial (or several commercials) promoting electric vehicles (EVs). The EV revolution is not just about Tesla (NASDAQ:TSLA) anymore. Many old guard automakers such as Ford (NYSE:F) and General Motors (NYSE:GM) are committing to having a fully electrified fleet (either hybrid or fully battery electric) within the next 10 to 15 years.

But for electric vehicles to be mass produced, EV batteries will also need to be available at scale. You can look at EV batteries as a chicken or egg proposition. You can also look at it like a lock and key combination. In either case, for electric vehicles to reach a mass audience, there will have to be a stockpile of EV batteries.

EVs may have fewer moving parts, but unless you're a company like Nio (NYSE:NIO) batteries will play a significant role in the cost of an electric vehicle. However, even Nio's battery-as-a-service program requires EV batteries to be readily available.

In this presentation, we look at seven battery stocks that will play a significant role in the mass production of EV batteries. And investing in these companies now can make some investors millionaires by 2030.

View the Stocks Here .