US stocks were mixed on Wednesday, with the S&P 500 trading around the flatline and the Nasdaq down 0.1% while the Dow Jones rose about 90 points, ending a nine-session losing streak, its longest since 1978. Investors are focused on the upcoming FOMC decision later in the day, where the Fed is widely expected to announce a 25bps cut to the federal funds rate. Additionally, the Fed will release its latest economic projections, including the closely watched "dot plot" that outlines policymakers' expectations for future interest rate moves. On the corporate side, Nvidia shares rose nearly...
The Dow Jones Industrial Average jumped on Wednesday as traders looked ahead to the Federal Reserve's December interest rate decision. The Dow was higher by about 126 points, or 0.2%. The 30-stock average posted a nine-day losing streak on Tuesday, its longest since 1978. If the Dow were to fall for a 10th day on Wednesday, it would be its worst losing streak since an 11-day slide in 1974. The S&P 500 inched up 0.1%. The Nasdaq Composite was higher by 0.07%. Nvidia which fell into correction territory earlier this week, climbed more than 4%. Nvidia entered the Dow last month....
Markets are pricing in a near certainty that the Federal Reserve will cut interest rates by a quarter point on Wednesday, bringing the target range to 4.25% to 4.5%. The focal point for investors is central bank policymakers' economic outlook and the path forward for rate policy. The Fed will issue its decision at 2 p.m. Eastern on Wednesday, followed by Chair Jerome Powell's press conference at 2:30 p.m.Loan interest rates remain high even as Fed has reduced ratesThe Federal Reserve has dialed back interest rates by three-quarters of a point since the end of its September meeting, but...