Apple, a Dow component and important contributor to the Nasdaq, shot up around five percent after reporting better-than-expected quarterly earnings after the close Tuesday.
Analysts say the cut in the benchmark lending rate has been largely priced in, although any Fed hints on the possibility of additional actions could move the market. In another issue closely watched by markets, US and Chinese negotiators concluded trade talks in Shanghai, reaching no deal but agreeing to convene again in September in Washington.
The White House said Beijing "confirmed their commitment" to buy US farm goods -- something President Donald Trump complained about Tuesday on Twitter.
Fake news
If Rothschild stops trying control our economy then we would never hit a slow down. Trump told him not to up the rates.