Pre-Market Report – Thursday 30 January: US markets slip | Fed keeps rates on hold

The S&P 500 slid on Wednesday after the Federal Reserve left interest rates unchanged in its first policy decision of the year, while Nvidia slipped following a strong session. The broad market index fell 0.47% to close at 6,039.31, while the Nasdaq Composite lost 0.51% to end at 19,632.32. The Dow Jones Industrial Average shed 136.83 points, or 0.31%, to 44,713.52.The Fed left the federal funds rate in a range of 4.25% to 4.50%. The Fed’s postmeeting statement offered a more cautious view toward sticky inflation, providing investors with an explanation behind Wednesday’s interest rate pause.Big tech earnings after hours.Tesla reported disappointing results on the top and bottom lines.Meta beats on revenue, provides soft guidance.Microsoft’s results for the fiscal second quarter exceeded Wall Street consensus. Its shares dropped after the company issued its earnings report, which showed Azure cloud growth slowed from the previous quarter.Why not sign up for a free trial? Get access to expert market insights and manage your investments with confidence. Ready to invest in yourself? Join the Marcus Today community.