The US Federal Reserve held the federal funds rate steady at 3.5% to 3.75%, matching market expectations. Fed Chair is set to speak any minute now.
US equities pushed into record territory before the decision, with the S&P 500 briefly trading above 7,000 for the first time ever before easing back. Early support came from strength in earnings from chip related names, including ASML.
In FX, the US dollar rebounded off recent lows against the euro and pound, and from a decade low versus the Swiss franc.
After the closing bell, investors are set to focus on quarterly earnings from Microsoft, Meta Platforms, and Tesla.
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