The tech-heavy Nasdaq advanced on Wednesday as strong Microsoft Corp results partially offset concerns over rising interest rates and their effect on the U.S. economy.
Investors are also keenly awaiting the Federal Reserve's monetary policy decision on May 3 for clues on policymakers' next steps regarding interest rates.
Traders have priced in a 79% chance of the U.S. central bank hiking rates by 25 basis points next week, as per CMEGroup's Fedwatch tool, with most expecting the Fed to hold rates before starting to cut them later this year.to its highest since 2011, driven up by unease that the government could hit its debt ceiling sooner than expected.
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