US stocks stabilize in early trading

Most of the major US stock indices steadied on Friday, as investors parse the US Federal Reserve's monetary policy hints.

The US Federal Reserve has kept the interest rate between zero and 0.25% unchanged, but projected to raise it 3 times in 2023 and 3 more times in 2024, to reach 1.8% by the end of 2024, and hinted at reducing the bond-buying program before the end of this year.

Wall Street was weighed down earlier today by Nike's stock fall, after the American sports equipment company reported disappointing expected quarterly revenues in the first fiscal quarter of 2022.

As for stocks, Dow Jones rose 0.1% or 37 points to 34,802 as of 14:15 GMT, and S&P 500 rose less than 0.1% or 2 points to 4,451, while Nasdaq fell 0.5% or 75 point to 14,976.