By coinnews 
00:00 Josh Lipton
Stocks close higher as the Fed holds rates steady. Chair Powell sticks to a wait and see approach, and Yahoo Finance’s Ali Canal joins us now with the trading day takeaways. Allie.
00:13 Ali Canal
Hi Josh. All right. Well, let’s start with the word of the day, the week, the month. Uncertainty. This was present in the Fed’s policy statement. It was present during the conference that happened at 2:30 p.m. And really, it points to the fact that the Fed is in wait and see mode. I actually want to play a little bit of what Chair Powell had to say earlier today.
00:36 Jerome Powell
There’s so much uncertainty. If you talk to businesses or market participants or forecasters, everyone is just is just waiting to see how developments play out and then we’ll be able to make a better assessment of what the appropriate path for monetary policy is. So we’re not in that place and you know, as that develops and I can’t I can’t really give you a time frame on that.
01:07 Ali Canal
Fun fact Josh, he actually said the word uncertainty about 13 times throughout that press conference. So wait and see. And this was largely reflected in the market action. We didn’t see any sizable swings, all three major indexes closing in the green, but we did see some choppy trading action throughout the session here. Taking a look at the S&P 500, we did see a sharp down tick at 2:00 p.m. on the heels of the decision. This wasn’t due to the decision. We knew that they wanted to remain on hold. It could have been due to changes in the policy statement with the Fed saying that they see risks tilted to the upside when it comes to the outlook. And that brings me to takeaway number two, which is the fact that it’s still all about tariffs, because right around the time that we got the Fed decision, headlines started to emerge that President Trump said that he will not be lowering the 145% tariff on Chinese imports as the two countries are set to come to the negotiating negotiating table this weekend. There were some thoughts that maybe he would consider lowering the tariffs in a show of good faith, but he simply responded no. So it sort of points to the fact that markets they’ve been anxious really over the past two months, really hinging on every word from this administration, no matter what other macro policies are going on out there.
02:44 Josh Lipton
Yeah. And Besten, of course, hanging in Switzerland, talked to his Chinese counterparts. Although it’s interesting Besten giving interviews and kind of kind of lowering expectations. But we’ll see what happens.
03:01 Ali Canal
Yeah, and also, I wanted to note that we saw some pretty significant single stock moves. So for example, if you take a look under the hood at the Dow, for example, you’ll see that uh, Disney actually led the Dow higher today. We closed up around 11% here, which is very significant considering the company has been uh, really struggling since the start of the year. They reported a beat on both the top and bottom lines, they raised their profit forecast, and they also revealed a new park coming to Abu Dhabi. So that was great. But also, we had Nvidia helping us out here as well, because a Bloomberg report is saying that Trump is looking to potentially uh, get rid of those Biden chip export controls. So we’ll see what comes of that. That’s lifting Nvidia shares uh, today up around 3% at the close. That also helped the Nasdaq sort of recover in late trading as well. Alphabet though, just continued to struggle throughout the course of the day and this came after uh, uh Apple said it was looking to integrate AI into its own search engine.
04:23 Josh Lipton
That was a big story. I mean, that was a really big unusual move. You based you had Apple’s Eddy Cue, head of services, long time veteran of Cupertino and he says, when he comes out and says searches on Safari dipped for the first time, right? And he’s chalking that up to AI. I just think that raised all these worries about, that have been front and center for that company, the existential threat of AI for Google’s bread and butter.
04:57 Ali Canal
Right. And then Apple shares, they they closed down today as well, down about 1%. So just another uh, continuation of this AI story and how all of these big tech companies, all eyes are on them as they’re spending aggressively. And really, all people want to know, who’s going to be the winner here in the AI race, especially when it comes to these hyperscalers.
05:24 Josh Lipton
We’ll watch. Thank you, Ali. Appreciate.