Tech Stocks Rally Ahead of Fed Rate Call. Dollar Falls After Trump Rout.
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Stocks looked set to extend their record-breaking run on Wednesday following earnings reports from two chip companies, while the dollar looked set to carry on sliding after comments from President Donald Trump sparked a brutal selloff for the greenback. The tech-heavy index was racking up gains after semiconductor manufacturer Texas Instruments and chip tool maker ASML both issued solid guidance, which investors took as a sign that the artificial-intelligence boom still has legs. The Federal Reserve is also set to make its latest policy decisionāthe central bank is widely expected to keep interest rates unchanged, but Chair Jerome Powellās comments could give the market a better idea of whether thereāll be scope for cuts to borrowing costs later in 2026.
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Stocks looked set to extend their record-breaking run on Wednesday following earnings reports from two chip companies, while the dollar looked set to carry on sliding after comments from President Donald Trump sparked a brutal selloff for the greenback. The tech-heavy index was racking up gains after semiconductor manufacturer Texas Instruments and chip tool maker ASML both issued solid guidance, which investors took as a sign that the artificial-intelligence boom still has legs. The Federal Reserve is also set to make its latest policy decisionāthe central bank is widely expected to keep interest rates unchanged, but Chair Jerome Powellās comments could give the market a better idea of whether thereāll be scope for cuts to borrowing costs later in 2026.