US Stocks Pause Ahead Of Fed Decision

US stocks pause ahead of Fed decision

Wall Street stocks paused at records early Tuesday as markets digested another round of mostly good earnings and awaited a key Federal Reserve decision

New York, (UrduPoint / Pakistan Point News - 2nd Nov, 2021 ) :Wall Street stocks paused at records early Tuesday as markets digested another round of mostly good earnings and awaited a key Federal Reserve decision.

Shares of Pfizer, Clorox and Under Armour were all higher following earnings releases, extending a successful quarter that has resulted in numerous all-time highs on Wall Street.

But analysts predicted stocks could trade sideways until the Federal Reserve unveils an expected announcement Wednesday to begin to trim its stimulus package.

The two-day Fed meeting is scheduled to begin later Tuesday.

About 15 minutes into trading, the Dow Jones Industrial Average was flat at 35,911.09.

The broad-based S&P 500 added 0.2 percent at 4,620.70, while the tech-rich Nasdaq Composite Index gained 0.1 percent to 15,614.53.

Among individual companies, Tesla fell 1.3 percent after founder Elon Musk said the electric car company had not reached a final agreement to supply Hertz with 100,000 electric autos.

Hertz' announcement of the deal last week helped push Tesla's valuation above $1 trillion. Shares of Hertz fell 3.3 percent on Tuesday.