The market expects the Federal Reserve to maintain its current stance, and Powell may give his "farewell performance
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The three major U.S. stock indexes opened slightly lower, with the Nasdaq down 0.23% and both the S&P 500 and Dow Jones indexes down 0.09%. Silicon Motion Technology surged over 33% and Seagate Technology rose more than 19%, both hitting record highs, following first-quarter results that exceeded expectations; other storage-related stocks also rose, with Western Digital up nearly 10%, SanDisk up nearly 7%, and Micron Technology up almost 4%. Starbucks gained more than 4% after reporting record Q2 revenue of $9.53 billion and raising its full-year same-store sales and earnings guidance. UBS climbed nearly 5%, with first-quarter net profit up 80% year-on-year and above expectations, and plans to further repurchase shares by year-end. Visa surged over 9% as consumer spending remained robust, Q2 results beat expectations, and a $20 billion share repurchase is planned. (Gelonghui)
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