US markets end mixed ahead of Fed policy outcome and mega cap earnings; US dollar hits four-year low

The US markets ended with mixed performances on Tuesday ahead of the crucial Federal Reserve’s policy outcome. The S&P500 and NASDAQ closed in green with upto 0.8% gains, while Dow Jones closed in red with 0.4% losses. The technology shares continued to advance further, taking NASDAQ closer to its previous record high levels.

However, investors remain sceptical about the US stock market rally as the US Dollar index continued to slide to nearly 4-year low levels. The Federal Reserve will announce its policy outcome later on Wednesday evening. The consensus estimates suggest that the policy rates will remain unchanged, considering robust GDP numbers and a controlled labour market situation.

On the other hand, the dollar index hit a four-year low of 95.2 as global central banks continued to pile on safe-haven assets like Gold and Silver. After the overnight plunge in Gold and Silver on Monday, the prices are now back to fresh record highs amid rising geopolitical tensions and concerns over a falling dollar. The Gold prices hit the $5,200 mark, up 3.4%, and silver prices jumped back above the $110 mark on Wednesday morning.

At the stock-specific level, the investors will closely watch key earnings from Tesla, Mircosoft and Meta Platforms on Wednesday, followed by Apple on Thursday.