On Wednesday, the U.S. stocks showed a mixed trend as Wall Street eagerly awaited the Federal Reserve’s next policy decision in the afternoon. Fed chief Jerome Powell was scheduled to deliver remarks during a press conference at 2:30 pm ET. Despite the expectations for the central bank to keep interest rates steady, traders were looking for hints on the criteria for potential rate cuts. Jim Cramer pointed out the underlying weaknesses in the economy, emphasizing the importance of Powell’s address in correcting any misconceptions about its strength.
Dupont De Nemours vs. Estee Lauder
Following the quarterly earnings report on Wednesday, Dupont De Nemours stock surged by more than 8%, showcasing positive signals of recovery in the semiconductor business. CEO Ed Breen’s leadership was highlighted as a decisive factor in the company’s significant progress. On the contrary, Estee Lauder experienced a decline of over 10% despite solid third-quarter fiscal numbers. The disappointing current-quarter outlook and revised sales forecast spooked investors, although Jim Cramer remained optimistic about the cosmetics giant’s future prospects.
Amazon delivered impressive quarterly results on Tuesday but faced muted gains on Wednesday due to slightly lower current-quarter guidance. Jim Cramer expressed confidence in the tech giant’s performance, speculating that the conservative outlook might lead to exceeding expectations in the future. The Club raised its price target for Amazon shares, demonstrating a bullish sentiment towards the company’s growth potential in the market.
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