Stock market today: Wall Street is mixed as its momentum slows ahead of the Fed's decision

NEW YORK — U.S. stocks are mixed on Thursday ahead of the Federal Reserve’s announcement coming in the afternoon about what it will do with interest rates.

The market’s main event, though, is coming later in the day. Wall Street’s nearly consensus expectation is that the Fed will cut its main interest rate for a second straight time. The central bank began its rate-cutting campaign in September as it focuses more on keeping the job market humming after helping get inflation nearly down to its 2% target.

Trump is pushing for tariffs and other policies that economists say would drive inflation higher, along with the economy’s growth. Traders have already begun paring forecasts for how many cuts to interest rates the Fed will deliver next year because of that. Expectations for such cuts have been a major reason the S&P 500 has set dozens of records already this year.

Match Group tumbled 18% after the dating app brand missed revenue targets as its most popular app, Tinder, continued to underperform. “I think everybody’s going to be worried about Trump’s tariffs because that’s one of the things in his playbook. And so we’ll have to see how things develop in the early stages of his presidency this time,” said Neil Newman, head of strategy for Astris Advisory Japan.

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