US stocks closed mixed on Wednesday (September 18) as investors weighed the Federal Reserve's interest rate outlook following an anticipated 25 bps rate cut. The S&P 500 and Nasdaq 100 fell 0.1% and 0.3%, respectively, while the Dow Jones Industrial Average rose 260 points, driven by gains in traditional sectors.
The FOMC median projection suggests two more rate cuts this year, but strong growth, low unemployment, and upward revisions to core inflation raise doubts about the pace of easing in 2026. Chairman Powell also signaled caution, refraining from expressing confidence in further cuts.
Consumer staples and credit services stocks performed better, with American Express up 2.8% and P&G up 1.4%, while technology stocks faced pressure—Nvidia and Broadcom fell 2.5% and 3.5% amid reports of Chinese restrictions on Nvidia chip purchases. Meanwhile, Oracle and Palantir fell 1%, and Amazon, MetaTrader, Alphabet, and Tesla fell more than 1%. (alg)
Source: Trading Economics
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