US stocks close at new records
Fed keeps rates on hold
Facebook results in focus
US stocks reached fresh highs on Wednesday after a day laden with earnings.
The Fed also left interest rates on hold - as expected.
The Dow Jones closed up 97 at 21,711, the Nasdaq finished at 6,422 -up 10.57.
The S&P 500 closed 0.70 higher at 2,477.
The TSX in Toronto shed 28 points, conversely, to finish at 15,174.
US crude is up 1.61% at the time of writing at $48.66 a barrel.
2.30pm - Kerim Derhalli, founder of investing app Invstr, said of the Fed's decision to keep rates on hold.
“As expected, the Federal Reserve is in no rush to raise interest rates for now. While economic growth remains strong, with employment exceeding expectations, recent reports on cautious consumer spending and low inflation suggests that overall growth is still subdued.
“Given that the IMF has this week downgraded its forecast for US growth for 2017 to 2.1%, and with Trump’s economic plan not panning out as expected, taking a breather seems reasonable.”
1.30pm - US shares up at mid-session
US stocks were still racing at mid-session, as the market awaited the Fed speech and oil firmed.
The Dow Jones climbed over 88 at 21,702.
The Nasdaq gained 7.35 at 6,419, while the broader based S&P 500 gained 1.04 at 2,478.
In Toronto, the TSX added 27 at 15,229.
In oil, US benchmark crude - West Texas Intermediate - added 1.38% to $48.55 a barrel.
As a sign of the rising markets, online retail giant Amazon (NASDAQ;AMZN) saw shares rise over 1% to take its market cap beyond the eye-watering $500bn mark ahead of earnings tomorrow.
It joins the small group of firms, which have surpassed that level - Apple (NASDAQ:AAPL), Alphabet (NASDAQ:GOOGL) and Microsoft (NASDAQ:MSFT).
Elsewhere in tech, Advanced Micro Devices Inc. (NASDAQ: AMD) added 5.78% to $14.92 after its second quarter results beat
The company today earlier in the session surpassed its former 10-year high by reaching $15.65 before reversing.
OPEN
Taking the cue from Europe, Wall Street shares started higher and reached record levels on Wednesday as traders digested another load of corporate earnings.
Also ahead is a Fed interest rate decision after the two day policy meeting - the general consensus is that the US central bank will leave rates where they are.
In early trade, the Dow Jones is up 98 at 21, 713, the Nasdaq gained 18 at 6,430.
The broader based S&P 500 added 3.09 to stand at 2,480.
Both the Dow and the Nasdaq hit intraday records in early trading, with the S&P 500 a few points away from its own record.
Among the big company stories, Boeing (NYSE:BA) shares surged almost 11% to $213.96 as results flew past expectations.
Coca-Cola Co. (NYSE:KO) posted second quarter earnings that topped analysts’ estimates, supported by growing demand for healthier versions of its beverages.
Shares though dipped 0.15% to $45.17 in early deals.
The company has been reducing the sugar content from its beverages and diversifying beyond soft drinks as consumers switch to healthier options and as more countries consider special taxes on sugar to combat obesity.
Ford (NYSE:F) shares lost 2.44% to $11 despite the car maker reporting second-quarter profit and revenue that was above Wall Street expectations.