Stock market today: Wall Street holds near its record highs ahead of a highly anticipated rate cut

NEW YORK — U.S. stock indexes are holding near their records ahead of an announcement that’s expected to kick off a series of cuts to interest rates meant to keep the economy out of a recession. The S&P 500 was little changed in early trading Wednesday. The Dow Jones Industrial Average slipped 71 points, or 0.2%. The Nasdaq composite was 0.2% higher. Treasury yields rose in the bond market ahead of the Federal Reserve’s decision on rates. Now that inflation has been easing, the U.S.

With inflation barely above their target level, Fed officials have been shifting their focus toward supporting a weakening job market and achieving a rare “soft landing,” whereby it curbs inflation without causing a recession. A half-point rate cut would signal that the Fed is as determined to sustain healthy economic growth as it is to conquer high inflation. This week’s move is expected to be only the first in a series of Fed rate cuts that will extend into 2025.

Consumer-facing genetics research company 23andMe Holding Co. tumbled more than 9% after seven independent directors resigned from the board. In a letter to CEO and Board Chair Anne Wojcicki, the board members expressed frustration that management had not produced “a fully financed, fully diligenced, actionable proposal that is in the best interests of the non-affiliated shareholders.”

Elsewhere, in midday European trading, France's CAC 40 slid 0.4% and Britain’s FTSE 100 shed 0.6%. Germany's DAX inched down less than 0.1%. Trading was closed in Hong Kong for a national holiday. The Shanghai Composite index edged 0.5% higher to 2,717.28.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street ticks closer to record heights ahead of a highly anticipated speechNEW YORK (AP) — U.S. stocks are ticking higher Thursday as Wall Street counts down to what’s supposed to be the main event of the week, a speech by Federal Reserve Chair Jerome Powell coming on Friday. The S&P 500 was 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street weakens ahead of a highly anticipated speechNEW YORK (AP) — U.S. stocks closed lower as Wall Street counted down to its main event for the week, a speech by Federal Reserve Chair Jerome Powell coming up on Friday. The S&P 500 lost 0.9% Thursday, its worst day in more than two weeks.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street climbs ahead of speech by Fed chief PowellNEW YORK (AP) — Stocks are climbing on Wall Street, but the market’s focus is thousands of miles to the west, where the head of the Federal Reserve is about to give a highly anticipated speech about interest rates. The S&P 500 was 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street hovers around records ahead of Nvidia earnings and inflation dataNEW YORK (AP) — Wall Street is hovering around record highs at the start of a week featuring another full slate of corporate earnings and the government’s...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street drifts in mixed trading ahead of Fed meeting this weekNEW YORK (AP) — U.S. stocks are drifting in mixed trading, offering a break from their whipsaw moves in recent weeks. The S&P 500 slipped 0.1% early Monday. The Dow Jones Industrial Average was up 255 points, or 0.
Source: SooToday - 🏆 8. / 85 Read more »

Nvidia stock slips ahead of earnings release as Wall Street reiterates bullish outlookNvidia stock is getting more Wall Street backing ahead of the company's crucial earnings report set for next week.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »