Published on 1 May 2024 on Benzinga
...As Fed Decision Looms: What's Going On With Markets? - Invesco QQQ Trust, Series 1 (NASDAQ:QQQ),...
A negative sentiment might linger on Wall Street on Wednesday, as evidenced by stock futures, after Advanced Micro Devices, Inc.‘s AMD underwhelming quarterly report, exerting pressure on the tech sector and the broader market. However, the afternoon’s Federal Reserve interest rate decision and subsequent press conference by Chairman Jerome Powell could be the key catalyst that ultimately determines the session’s direction.
Despite potential short-term headwinds, some analysts view the April market pullback as a necessary correction after a strong rally, paving the way for renewed momentum in the coming months.