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rdf:type	schema:NewsArticle
schema:articleBody	Wall Street stocks finished solidly higher Wednesday as the Federal Reserve again stressed that it would maintain its highly accommodative stance and keep interest rates at zero until the economy recovers. The Dow Jones Industrial Average finished up 0.6 percent at 26,539.57. The broad-based S&P 500 gained 1.2 percent to 3,258.44 while the tech-rich Nasdaq Composite Index climbed 1.4 percent to 10,542.94. Fed Chair Jerome Powell said the central bank has seen rising evidence that the recent spike in US COVID-19 cases was weighing on activity. He said "the current economic downturn is the most severe in our lifetimes... and it will take continued support from both monetary and fiscal policy" to achieve a recovery. Stocks were in positive territory before the meeting, but added to gains after the Fed statement and press conference. "The Fed's commitment to support the economy is a big part of it," said FHN Financial's Chris Low. Investors also appeared to shrug off a congressional hearing with tech heavyweights Apple, Amazon, Facebook and Google parent Alphabet. Although the chief executives of these companies faced tough questioning during the early going of the hearing, there did not appear to be a coalescing around specific action to penalize the giants. All four companies gained at least one percent. Earnings released earlier Wednesday were mixed, with Starbucks and chip company Advanced Micro Devices rising after results and General Electric and General Motors both falling. Boeing shed 2.8 percent after reporting a bigger-than-expected quarterly loss and signaled it expects additional job cuts in light of the hit from coronavirus to the aviation industry. jmb/cs
schema:headline	US stocks end up as Fed keeps accommodative stance
schema:mentions	United States congressional hearing General Electric S&P 500 Index Dow Jones Industrial Average General Motors Federal Reserve Prime Video Apple Inc. Starbucks Google Facebook Coronavirus Advanced Micro Devices Fiscal policy Jerome Powell NASDAQ Composite
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-07-29 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	65 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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