After the statement, traders boosted their bets that the Fed would cut short-term borrowing costs in June – but not before then. "Employment and inflation risks have downsized, but inflation overall remains stubborn. The benchmark S&P 500 index had briefly topped the 7,000 points milestone for the first time earlier in the day but couldn't hold its gains. Among the 11 major S&P 500 sectors the biggest decliners were real estate, consumer staples and healthcare. The S&P 500 posted 38 new 52-week highs and 14 new lows while the Nasdaq Composite recorded 102 new highs and 125 new lows.

Source: The Star January 29, 2026 02:24 UTC