The rosier future for the US economy

U.S. stock Market closed mostly higher Wednesday, with the Dow and the S&P 500 ending near record levels after the Federal Reserve stood pat on interest rates but referred to the U.S. economy in positive terms.

The central bank, after two-day meeting, said economic activity has been picking up at a “solid rate”. The rosier view of the economy also suggests that it is on track to hike interest rates in December, as has been expected.

The attention is now focused on who will become the next Fed chair. President Donald Trump is expected to name his pick as early as Thursday, with all indications pointing to the choice being Jerome Powell, the current member of the Federal Reserve Board of Governors.

In addition, the markets rally is supported by investors that are hoping on the passage of a tax package and the corporate tax cuts. Yet, almost 75% of the S&P Companies have reported beating analyst estimates.

Sony is expecting to make its highest-ever annual profit

If you thought 2017 was a great year for games, 2018 looks like it may be even better.

Sony reported a second-quarter earnings and revenue that beat forecasts thanks to a strong performance from its PlayStation gaming business. The company's shares recently hit a nine-year high, but there are also questions about where the future growth will come from.

The reason behind the growth is linked to the expectation about the future profit.

The Japanese giant expects operating income for the year ending March 31 to be 630 billion Japanese yen. If realized, this would be the highest ever profit for the company since its record-breaking year in 1998.

PlayStation has been the crown jewel for Sony for a long time and the latest quarter was helped by increased game and hardware sales. Major game titles such as "FIFA 18" and "Unchartered: The Lost Legacy" were released during the quarter.

On Monday, the company also announced a number of new games coming out over the next couple of years. The company's shares recently hit a nine-year high, but there are also questions about where the future growth will come from. Sony has been investing in areas such as VR and artificial intelligence.