Wall Street today: US stock indices rise slightly after hitting record highs, spotlight on Fed interest rate decision

US stock indices rose slightly on Thursday after storming to record highs in previous session on former president Donald Trump's presidential election victory.

Market participants were awaiting Interest rate decision from the Federal Reserve later in the day.

It is widely expected that the Fed will cut its key interest rate for a second straight time.

As of 10:10 am Eastern time, the S&P 500 was up 0.5 per cent, the Dow Jones Industrial Average was up 0.1 per cent, and the Nasdaq Composite was 1.1 per cent higher.

At the opening bell, the Dow Jones Industrial Average fell 11.0 points, or 0.03 per cent, to 43718.92. The S&P 500 rose 18.2 points, or 0.31 per cent, to 5947.21, while the Nasdaq Composite rose 101.0 points, or 0.53 per cent, to 19084.428.

Before the opening bell, futures for the S&P 500 rose 0.3 per cent and the Dow Jones Industrial Average ticked up 0.2 per cent.

JPMorgan Chase fell 3.3 per cent, a day after banks rallied.

Trump Media & Technology Group, fell 17.6 per cent.

Healthcare services company McKesson jumped 8.2 per cent after reporting a stronger quarterly profit.

Lyft stock jumped 29.6 per cent after the ride-hailing app breezed past Wall Street’s sales and profit forecasts.

Chip company Qualcomm climbed 2 per cent after beating analysts’ profit forecasts.

Shares of Warner Bros Discovery soared 14.2 per cent after a surprise third quarter profit.

In the bond market, the yield on the 10-year Treasury eased to 4.36 per cent from 4.44 per cent late on Wednesday.

US weekly jobless claims rose marginally last week, showed data.

Crude oil

Oil prices slipped on Thursday, extending a sell-off triggered by the US presidential election.

Brent crude oil futures fell 66 cents, or 0.9 per cent, to $74.26 a barrel by 1419 GMT on Thursday. US West Texas Intermediate (WTI) crude lost 80 cents, or 1.1 per cent, to $70.89.

Bullion

Gold prices rebounded from a three-week low on Thursday on the back of a weaker US dollar.

Spot gold was up 1.3 per cent to $2,692.59 per ounce as of 10:10 am EST (1510 GMT). US gold futures rose 0.9 per cent to $2,700.10.

Spot silver added 1.8 per cent to $31.72 per ounce.