economy
April 29, 2026
Major Fed rate dissent, Powell to stay on
Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.
TL;DR
- Stocks declined as oil prices continued to rise, impacting gasoline prices.
- The Federal Open Market Committee (FOMC) left interest rates unchanged, but four central bankers dissented, a notable occurrence since 1992.
- Jerome Powell announced his intention to remain a central bank governor after his chairmanship ends.
- Boeing shares fell after rival Airbus secured a large order from China Southern Airlines, valued at $21.37 billion.
- Major tech companies including Amazon, Alphabet, Meta Platforms, and Microsoft are scheduled to report earnings, with attention on AI demand and capital expenditures.
- Upcoming economic data includes the personal consumption expenditures (PCE) price index, weekly jobless claims, and first-quarter GDP.
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