Stocks in the US closed mixed on Wednesday as investors weighed the Federal Reserve’s rate outlook following the anticipated 25bps cut.
The S&P 500 and Nasdaq 100 slipped 0.1% and 0.3%, while the Dow rose 260 points, driven by gains in traditional sectors. FOMC median projections suggest two more rate cuts this year, but strong growth, low unemployment, and upward revisions to core inflation raised doubts about the pace of easing in 2026. Chairman Powell also signaled caution, refraining from indicating confidence in further cuts.
Consumer staples and credit services outperformed, with American Express up 2.8% and P&G adding 1.4%, while tech 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 declined 1%, and Amazon, Meta, Alphabet, and Tesla dropped over 1%.
Source: Trading Economics.com
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