Major indices mixed after FOMC hawkish pause

The FOMC kept rates unchanged but the dot plot forecasts 50 basis point hikes between now and the end of the year.

The initial reaction was to the downside in stocks,

• Dow Industrial Average was down -428.58 points at the lows
• S&P index was down -31.17 points at the lows
• NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index was down -117.33 points at the lows

by the close, the indices had rebounded. The final numbers are showing:

• Dow industrial average fell -232.79 points or -0.68% at 33979.32
• S&P index rose 3.50 points or 0.08% at 4372.52
• NASDAQ index rose 53.15 points or 0.39% at 13626.47

Tesla shares did snap its 13 day win streak. The stock price fell -0.74%. Delta Air Lines extended its streak to 14 days. It shares rose 1.52%

Looking at some other stocks

• Nvidia rose $19.75 or 4.81%
• Intel rose $1.67 or 4.92%
• Unity software, which Apple cited as a software provider for its VR initiative, search by $2.45 or 6.35%
• Oracle which announced earnings Earnings A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price A company’s earnings represent its profits or net benefits as a result of its operation.Earnings are the net benefits of a corporation's operation. Earnings can be calculated as EBIT, i.e. earnings before interest and taxes, and EBITDA, i.e. earnings before interest, taxes, depreciation, and amortization.Earnings are valuable tools for investors of company shares as they can often highlight a company’s financial standing and performance. Better performances can result in strengthened share price Read this Term this week rose 4.75%
• Broadcom rose 4.26%
• Nike rose by 5.67%
• Shake Shack rose by 3.74%

On the negative side,

• UnitedHealth was a huge drag on Dow industrial average falling by -6.36%

Tomorrow after the close Adobe will announce the earnings. It's shares rose by $0.54 or 0.11% today. Since the May 12 low, the price is up 44.32% on AI initiatives.