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Federal Reserve Keeps Rates Unchanged, Markets Close Slightly Higher

The major averages finished the day fractionally higher after the Federal Reserve left the federal funds rate unchanged at 3.75%-4%. In a 10-2 vote, the Fed left its benchmark interest-rate unchanged, with Chair Warsh saying that while uncertainty remains elevated in part due to "geopolitical developments," domestic spending has been "resilient." Productivity growth is strong, Warsh added, and capital investment is "robust."Semiconductor stocks provided support after South Korea's SK Hynix reported record profits. Meanwhile, oil prices surged nearly 3% following an attack on Saudi Arabia's Ras Tanura refinery.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Trian has offered to acquire Wendy'sfor $7.35 per share in cashSeagatereported better-than-expected Q1 results and raised its quarterly dividendSK Hynixreported mixed Q3 results, with net profit falling below consensus estimates but revenue coming in higherGE Vernovaprovided a "beat and raise" report for Q3 and agreed to acquire Trench Group for $9BAppleintroduced the MacBook Pro XDR, which will start at $2,899 for the 14-inch model and $3,399 for the 16-inch model2. WALL STREET CALLS:Enphase Energydowngraded at Roth Capital and OppenheimerXylemdowngraded to Underweight at JPMorganPiper Sandler downgraded F5on valuation, lack of catalystsWhirlpooldowngraded to Sell at StifelBoeingupgraded to Buy at Langenberg3. AROUND THE WEB:Certain BPboard members are in favor of breaking up the oil and gas giant following years of smaller spinoffs that have failed to cool down pressure from shareholders, Semafor reportsThe U.S. Department of Justice has made inquiries about how Nvidia's$12.93B deal to buy open-source platform Hugging Face would affect competition in artificial intelligence, Reuters saysMeta's$25B share sale attracted demand for about five times the available shares, as the company seeks to raise $98B for its AI spending, Bloomberg saysResearchers at TrendAI, a defense firm, found an Israeli ad tech company has been targeting users of Starlink'ssatellite internet service, likely to spy on them, Reuters reportsOpenAI is planning to purchase AI chips from Google, The Information reports4. MOVERS:Genmabgained in New York after announcing its Phase 3 LiGeR-HN1 trial of petosemtamab met its dual primary endpointsAxoGenincreased after reporting Q3 results and raising its guidance for FY26Stellantisand Haywardwere higher in New York after reporting quarterly resultsSellas Life Scienceswas lower after triggering the final analysis of its REGAL trialRapport Therapeuticsfell after announcing a 8.33M share offering5. EARNINGS/GUIDANCE:Visareported better-than-expected Q4 earnings and revenue and provided its outlook for Q1 and FY27Amphenolreported Q3 results and provided guidance for Q4 and FY26Brinkerreported Q1 results and raised its outlook for FY27Dieboldreported Q3 results and cut its guidance for FY26Idexreported Q3 results, with CEO Eric Ashleman calling it "another strong quarter"INDEXES:The Dow rose 97.53, or 0.19%, to 52,475.10, the Nasdaq gained 72.04, or 0.27%, to 26,549.85, and the S&P 500 advanced 21.38, or 0.28%, to 7,743.98.

Major Averages Rise as Traders Await Fed Rate Decision

The major averages were mostly higher near noon as traders await the Federal Reserve's interest-rate decision and earnings from Alphabet and Microsoft after the closing bell. Semiconductor stocks are providing support after South Korea's SK Hynix reported record profits.The Fed is widely expected to leave its benchmark interest-rate range unchanged at 3.75%-4% when it announces its decision at 2 p.m. ET, followed by Chair Kevin Warsh's press conference at 2:30 p.m. ET. With inflation remaining elevated and oil prices climbing after an attack on Saudi Arabia's Ras Tanura refinery, investors will focus on Warsh's comments for clues about the timing of future rate hikes.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Trian has offered to acquire Wendy'sfor $7.35 per share in cashSeagatereported better-than-expected Q1 results and raised its quarterly dividendSK Hynixreported mixed Q3 results, with net profit falling below consensus estimates but revenue coming in higherVisareported better-than-expected Q4 earnings and revenue and provided its outlook for Q1 and FY27GE Vernovaprovided a "beat and raise" report for Q3 and agreed to acquire Trench Group for $9B2. WALL STREET CALLS:Enphase Energydowngraded at Roth Capital and OppenheimerXylemdowngraded to Underweight at JPMorganPiper Sandler downgraded F5on valuation, lack of catalystsWhirlpooldowngraded to Sell at StifelBoeingupgraded to Buy at Langenberg3. AROUND THE WEB:Meta's$25B share sale attracted demand for about five times the available shares, as the company seeks to raise $98B for its AI spending, Bloomberg saysAmazondiscouraged teams from relying solely on token usage or code generation as measurements of AI adoption, calling them "deeply flawed" metrics in an internal memo, CNBC reportsRio Tinto'sboard has proposed increasing CEO Simon Trott's target remuneration package by 56%, Reuters saysResearchers at TrendAI, a defense firm, found an Israeli ad tech company has been targeting users of Starlink'ssatellite internet service, likely to spy on them, Reuters reportsOpenAI is planning to purchase AI chips from Google, The Information reports4. MOVERS:Genmabgains in New York after announcing its Phase 3 LiGeR-HN1 trial of petosemtamab met its dual primary endpointsAxoGenincreases after reporting Q3 results and raising its guidance for FY26Stellantisand Haywardhigher in New York after reporting quarterly resultsSellas Life Scienceslower after triggering the final analysis of its REGAL trialRapport Therapeuticsfalls after announcing a 8.33M share offering5. EARNINGS/GUIDANCE:Amphenolreported Q3 results and provided guidance for Q4 and FY26Brinkerreported Q1 results and raised its outlook for FY27Dieboldreported Q3 results and cut its guidance for FY26Idexreported Q3 results, with CEO Eric Ashleman calling it "another strong quarter"Flexreported Q2 results, provided guidance for Q3, and raised its outlook for FY27INDEXES:Near midday, the Dow was up 144.45, or 0.28%, to 52,522.02, the Nasdaq was down 22.06, or 0.08%, to 26,455.75, and the S&P 500 was up 13.30, or 0.17%, to 7,735.90.

Investors Await Fed Rate Decision and Earnings Reports

Stock futures are higher as investors await the Federal Reserve's interest-rate decision and earnings from Alphabet and Microsoft after the closing bell. Semiconductor stocks are providing support after South Korea's SK Hynix reported record profits.The Fed is widely expected to leave its benchmark interest-rate range unchanged at 3.75%-4% when it announces its decision at 2 p.m. ET, followed by Chair Kevin Warsh's press conference at 2:30 p.m. ET. With inflation remaining elevated and oil prices climbing after an attack on Saudi Arabia's Ras Tanura refinery, investors will focus on Warsh's comments for clues about the timing of future rate hikes. Brent crude rising above $115 a barrel is adding to concerns that higher energy costs could complicate the inflation outlook.In pre-market trading, S&P 500 futures rose 0.21%, Nasdaq futures rose 0.36% and Dow futures slipped 0.01%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Wendy'sup 16% after Trian Management submitted to the board a non-binding proposal to acquire all of the outstanding shares of common stock not currently beneficially owned by the group for a price of $7.35 per share in cashUP AFTER EARNINGS -Vertivup 15%Stellantisup 8%Wingstopup 8%SK Hynixup 6%PPGup 6%Brinkerup 5%Deutsche Bankup 4%GE Vernovaup 1%Rogers Corporationup 1%DOWN AFTER EARNINGS -Robinhooddown 6%GlaxoSmithKlinedown 5%Seagatedown 2%UBSdown 1%Biogendown 1%T-Mobiledown 1%