Wall Street Juggles Tight Trades Amid Fed Watch and Tech Earnings

Wall Street traded narrowly as investors analyzed Q2 GDP data and anticipated Federal Reserve's policy decisions and tech giants' earnings. Despite a rebound in economic growth, concerns arose due to weak domestic demand. Upcoming earnings reports from major firms might set new market directions.

Wall Street remained within a tight trading range on Wednesday as investors scrutinized second-quarter GDP data, with an eye on the Federal Reserve's upcoming policy decision and earnings from leading technology giants.

Despite a rebound in second-quarter economic growth, largely driven by reduced imports, experts such as David Russell from TradeStation expressed concerns about weak domestic consumption.

Investors eagerly await earnings reports from major companies like Microsoft and Meta Platforms, hoping for positive outcomes that might drive Wall Street to new highs, as geopolitical tensions and U.S. trade policies loom over the financial landscape.

(With inputs from agencies.)