Investors waited for the Fed's latest interest rate decision, and U.S. stocks fluctuated within a narrow range throughout the day, with repeated ups and downs.

As of the close, the Dow rose 67.3 points, or 0.2%, to 33,128.8 points; the S&P 500 rose 20.1 points, or 0.5%, to 4,175.5 points; the Nasdaq rose slightly by 27.7 points, or 0.2%, to close at 12,563.8 points.

　　In terms of individual stocks, AMD announced its first-quarter financial report after the market. During the period, revenue was US$5.89 billion, a 71% increase from the same period last year, higher than the expected value of US$5.52 billion, and all business revenue achieved double-digit growth.

Some analysts believe the pandemic-fueled PC sell-off may be over, but AMD's earnings report showed no decline in computer demand.

In the first quarter, the company's adjusted earnings per share were $1.13, which doubled year-on-year, far exceeding the expected value of $0.91, and the second quarter revenue is expected to be $6.5 billion.

The financial report was positive, and AMD once surged 8% after the market. However, chip stocks have been under significant pressure since the beginning of the year, and the stock has fallen by nearly 40%.

　　Starbucks also disclosed its performance after the market. Revenue in the last quarter increased by 14.5% to US$7.64 billion, and net profit was US$670 million, a year-on-year increase of 2.3%.

The U.S. market performed outstandingly, with same-store sales growth of 12%, offsetting the operating pressure in overseas markets, where same-store sales fell 8%. China, Starbucks’ second largest market, saw a 23% drop in same-store sales during the reporting period .

Taking into account factors such as the epidemic, inflation, store investment and employee salary increases, Starbucks did not give profit guidance for fiscal 2022.

The stock rose more than 5% after hours.

　　Adam Crisafulli, founder of financial information firm Vital Knowledge, wrote in a note to clients that while not many believe the market has bottomed, for the first time in several days, bears are looking a little weak. , the bears are more anxious than the bulls.

　　At the beginning of May, US stocks tried to rebound. The S&P 500 index rose for two consecutive days, but there was still room for adjustment, and it was still 13% away from the previous high.

RBC strategist Lori Calvasina said that some indicators show that U.S. stocks will continue to fluctuate in the short term, and the stock index has more downside, and the market is in extreme panic.

However, the bank also said that for long-term investors, the data also showed opportunities for contrarian investing.

　　Energy and financial stocks led the gains, with Chevron and Exxon Mobil closing up 1.7 percent and 2.1 percent respectively, JPMorgan Chase up 2.1 percent and Morgan Stanley up 2.2 percent.

Ten-year U.S. Treasury yields fell back below 3 percent on Tuesday, easing some of the selling pressure on stocks.

A day earlier, the 10-year U.S. Treasury yield climbed to its highest level since December 2018.

　　On the 3rd local time, the Federal Reserve opened a two-day interest rate meeting. The market generally expected that a 50 basis point interest rate hike was a certainty. This will be the first time since 2000 that the Fed has raised interest rates by 50 basis points in one go.

Investors also expect the Fed to start reducing debt in June, shrinking its $9 trillion balance sheet at a pace of $95 billion a month.

Former Federal Reserve official Randal Quarles (Randal Quarles) said on the day that given the level of inflation and the decline in the unemployment rate, the US economy is unlikely to achieve a soft landing, and the consequence may be a recession.

He believes that inflation is largely driven by excess demand, which is something the Fed needs to address.

He also said that, given the size of the U.S. debt, even a small increase in interest rates would have a significant impact on the economy for a country that is accustomed to chronically low interest rates.

Billionaire and hedge fund manager Paul Tudor Jones told reporters in early trading that as the Fed tightens monetary policy and the economy tends to slow, capital preservation should be a key goal for investors

.

"There is no worse market environment for financial assets than right now, when you definitely don't want to own bonds and stocks," he said.