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The Dow Jones Industrial Average closed down 1,152.46 points, or 2.18%, at 51,594.86 on Wednesday, July 29; the S&P 500 closed down 112.40 points, or 1.51%, at 7,316.38; and the Nasdaq Composite closed down 433.97 points, or 1.74%, at 24,442.94 on Wednesday, July 29.July 30th - U.S. stocks initially rose and then fell after the Federal Reserve announced its decision on Wednesday. The Dow Jones Industrial Average closed down 2.18%, the S&P 500 fell 1.5%, and the Nasdaq Composite fell 1.7%. SK Hynix (SKHY.O) fell 2.6%, SanDisk (SNDK.O) fell 7%, Micron Technology (MU.O) fell 9.9%, Nvidia (NVDA.O) fell 3.5%, and Seagate Technology (STX.O) rose more than 2%. The Nasdaq China Golden Dragon Index closed up 1.7%, and Li Auto (LI.O) rose more than 4%.According to CNBC, "New Bond King" Gundlach said the Federal Reserve may raise interest rates in September, especially if the yield curve continues to steepen.Market news: Canadian Prime Minister Carney has dismissed the idea that Canada should restrict the supply of critical resources to the United States in retaliation for its tariff policies.On July 30th, analysts described the Federal Reserves decision as "hawkish inaction." While a majority of members chose to keep interest rates unchanged, three members—Dallas Feds Logan, Cleveland Feds Hammark, and Minneapolis Feds Kashkari—voted in favor of a 25-basis-point rate hike. Barclays Marc Giannini stated, "The FOMC made a hawkish inaction decision." "This policy decision was made amidst significant hawkish headwinds, with these hawkish members favoring an immediate rate hike rather than waiting for more data." Previously, economists had widely expected two dissenting votes, making Kashkaris vote in favor of the rate hike surprising to some. Janus Henderson Investors analyst Daniel Syluk stated, "The three dissenting votes highlight that there remains a considerable force within the committee concerned about inflation."

Technical Analysis

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