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Dow sees muted gains but Nasdaq kicks off Wednesday solidly higher ahead of Fed policy update, key tech hearing

U.S. stock benchmarks on Wednesday opened with gains as investors awaited the conclusion of a Federal Reserve policy meeting later in the day, watched talks on a coronavirus aid package in Congress, and awaited a highly anticipated congressional hearing featuring the giants of Silicon Valley and e-commerce. The Dow Jones Industrial Average rose less than 0.1% at 26,404, the S&P 500 index opened 0.4% at 3,230, while the Nasdaq Composite Index advanced 0.7% at 10,474. The Federal Reserve will conclude a two-day policy meeting later Wednesday, with a statement due at 2 p.m. Eastern followed by Chairman Jerome Powell's news conference at 2:30 p.m. Meanwhile, a House Judiciary Antitrust subcommittee later in the day will speak to the heads of Amazon.com , Google parent Alphabet Inc. , Facebook Inc. and Apple Inc. . In economic news, the U.S. trade deficit in goods showed a 6.1% decline in June as exports grew faster than imports, but the level of trade is still well below year-ago levels because of the massive strain caused by the coronavirus. In other corporate news, Advanced Micro Devices Inc. shares soared after the chip maker late Tuesday reported second-quarter earnings that topped expectations and boosted its full-year forecast. Shares of Eastman Kodak Co. surged 170% early Wednesday , extending its gains after it on Tuesday announced that it was receiving government funds to manufacture generic drug ingredients. Investors continue to pay attention to negotiations between congressional Republicans, Democrats and the White House on another coronavirus rescue package ahead of the end-of-the-month expiration of supplemental unemployment benefits. Read More...

U.S. stock benchmarks on Wednesday opened with gains as investors awaited the conclusion of a Federal Reserve policy meeting later in the day, watched talks on a coronavirus aid package in Congress, and awaited a highly anticipated congressional hearing featuring the giants of Silicon Valley and e-commerce. The Dow Jones Industrial Average rose less than 0.1% at 26,404, the S&P 500 index opened 0.4% at 3,230, while the Nasdaq Composite Index advanced 0.7% at 10,474. The Federal Reserve will conclude a two-day policy meeting later Wednesday, with a statement due at 2 p.m. Eastern followed by Chairman Jerome Powell’s news conference at 2:30 p.m. Meanwhile, a House Judiciary Antitrust subcommittee later in the day will speak to the heads of Amazon.com , Google parent Alphabet Inc. , Facebook Inc. and Apple Inc. . In economic news, the U.S. trade deficit in goods showed a 6.1% decline in June as exports grew faster than imports, but the level of trade is still well below year-ago levels because of the massive strain caused by the coronavirus. In other corporate news, Advanced Micro Devices Inc. shares soared after the chip maker late Tuesday reported second-quarter earnings that topped expectations and boosted its full-year forecast. Shares of Eastman Kodak Co. surged 170% early Wednesday , extending its gains after it on Tuesday announced that it was receiving government funds to manufacture generic drug ingredients. Investors continue to pay attention to negotiations between congressional Republicans, Democrats and the White House on another coronavirus rescue package ahead of the end-of-the-month expiration of supplemental unemployment benefits.

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