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Good morning. Stocks edged higher for a third day in a row in early trading on Wednesday, ahead of the Federal Reserve’s policy decision and earnings from Alphabet (GOOG) and Microsoft (MSFT).
The Tech (XLK) sector advanced, extending gains as shares of chip giants Nvidia (NVDA), AMD (AMD), and Broadcom (AVGO) all rose. The move higher after SK Hynix (SKHY) saw profits increase sevenfold last quarter.
Here’s a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data.
Brent crude oil futures (BZ=F) gained more than 1% to hover near $111 per barrel while WTI (CL=F) also traded near $101 ahead of the Fed’s policy decision expected this afternoon.
Most market participants expect policymakers to hold rates steady, but a hawkish tone from Fed Chair Kevin Warsh following the decision.
Here are some other notable stocks that Yahoo Finance readers are viewing this morning: SoFi Technologies (SOFI), UPS (UPS), and Corning Incorporated (GLW).
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