Stocks, Bonds Waver as Powell Signals Fed on Hold: Markets Wrap

The Federal Reserve’s decision to leave rates steady sent stocks and bonds wavering, with Jerome Powell refraining from signaling any imminent resumption of rate cuts amid a solid economy. The dollar rose as Treasury Secretary Scott Bessent touted a strong currency.

Bonds barely budged. Following a tech-led rally that drove the S&P 500 briefly above 7,000, equity gains faded. In late hours, Meta Platforms Inc. jumped on a bullish outlook. Tesla Inc. climbed as profit beat estimates. Microsoft Corp. sank as record spending raised concerns that it will take longer than expected for artificial-intelligence investments to pay off.