U.S. stocks were mixed late Wednesday as traders digested comments from Federal Reserve Chair Jerome Powell, who signaled that another interest rate cut in December is far from guaranteed. The Dow Jones Industrial Average and S&P 500 edged slightly lower, while the Nasdaq climbed on continued gains
Investors trimmed bets on a December rate cut, now giving it a 71% probability, down from 90% previously. Earlier, markets initially rose following the Fed’s expected quarter-point interest rate cut and its announcement to restart limited Treasury purchases. Policymakers noted that the U.S. federal government shutdown constrained their decision-making process. The Fed lowered its overnight benchmark rate to 3.75%–4.00%, marking the second rate cut this year.
“Markets tend to overreact to news out of the Federal Reserve in the short term,” said Oliver Pursche, senior vice president at Wealthspire Advisors. “Chairman Powell indicated that another rate cut is not a foregone conclusion… The Fed is data dependent.”
Tech giant Nvidia provided a major boost, becoming the first company to reach a $5 trillion market valuation, with shares up 2.7%. Nvidia has gained over 50% this year, driving Wall Street’s AI rally.
By the close, the Dow fell 39.81 points (0.08%) to 47,666.56, the S&P 500 dropped 6.44 points (0.08%) to 6,884.45, and the Nasdaq Composite rose 76.39 points (0.32%) to 23,903.89.
Investors are also watching results from major tech firms due after the bell, including Meta Platforms, Microsoft, and Alphabet, which could influence market direction in the coming days.
Russia has welcomed remarks by Ukrainian President Volodymyr Zelenskyy suggesting the U.S. is making security guarant...
Russia has delivered a large shipment of humanitarian aid to Iran, as ongoing conflict damages health infrastructure and leaves civilians in urgent...
Georgia’s political crisis is intensifying as Prime Minister Irakli Kobakhidze hardens his stance on prot...
Central Asia’s energy systems are becoming increasingly vulnerable as countries depend heavily on single power sources while facing mounting ...
A marine drone struck a Turkish crude oil tanker that had departed Russia, causing an explosion in the Black Sea near I...
Russia has delivered a large shipment of humanitarian aid to Iran, as ongoing conflict damages health infrastructure and leaves civilians in urgent need of care.
Georgia’s political crisis is intensifying as Prime Minister Irakli Kobakhidze hardens his stance on protest-related arrests, insisting that detainees must show “repentance and confession” before any discussion of amnesty or pardon can begin.
Central Asia’s energy systems are becoming increasingly vulnerable as countries depend heavily on single power sources while facing mounting climate pressures, a new report by the Eurasian Development Bank (EDB) warns.
A marine drone struck a Turkish crude oil tanker that had departed Russia, causing an explosion in the Black Sea near Istanbul's Bosphorus strait on Thursday, Türkiye's transportation minister said.
Both the United States and Iran are giving conflicting messages about trying to end the conflict in the Middle East as the rest of the world battle with the consequences of the war. Welcome to AnewZ's coverage of the tensions in the Middle East.
Danish Prime Minister Mette Frederiksen resigned on Wednesday after her coalition suffered a heavy election defeat, triggering negotiations over who will form the next government.
Iran is not seeking war but will only accept a settlement that ensures a permanent end to the conflict, Foreign Minister Abbas Araghchi has said, as tensions between Iran, Israel and the United States continue to fuel fears of a wider regional escalation - latest on the Middle East conflict.
A drone has flown into Estonian airspace from Russia. It happened early on Wednesday morning and slammed into a chimney at a local power station, the Baltic country's Internal Security Service told public broadcaster ERR.
Iran has rejected a U.S. proposal to end the war, insisting any ceasefire will occur only on its own terms and timeline, according to a senior political-security official speaking to state-run Press TV on Wednesday.
Petrol price spikes triggered by the war in Iran are boosting used electric vehicle sales across Europe, online car platforms told Reuters, in an early sign that pain at the pump is pushing consumers away from combustion engines.
Meta Platforms is increasing compensation for top executives, including its first-ever offer of stock options, as it tries to fend off competition in the artificial intelligence (AI) race and incentivize leaders to stay with the company for several years.
The French government’s bid to suspend the marketplace of Chinese online retailer Shein in the country has been overruled by a Paris Court of Appeal.
The prevailing security situation in the region has done little to deter entrepreneurs from the Commonwealth of Independent States (CIS) who continue to view Dubai as a premier and safe location for business.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
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