The S&P 500 Index ($SPX) (SPY) Wednesday closed down -0.47%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -0.31%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.24%. March E-mini S&P futures (ESH25) are down by -0.53%, and March E-mini Nasdaq futures (NQH25) are down by -0.36%.
Stocks settled moderately lower on Wednesday after the Fed kept interest rates unchanged as expected, but its hawkish post-meeting statement hinted at an extended pause in rate cuts. Some negative corporate earnings results also weighed on stocks Wednesday, with Packaging Corp closing down more than -9% after forecasting Q1 EPS below consensus. Also, Danaher closed down more than -9% after reporting weaker-than-expected Q4 adjusted EPS. In addition, Lennox International closed down more than -8% after forecasting full-year free cash flow below consensus.
