Markets React as Fed Signals Rate Cut and Balance Sheet End
TL;DR Summary
The Dow Jones hit a record high of 48,040.64 ahead of the Fed's expected rate cut to 3.75%-4.00%, amid ongoing trade negotiations and economic uncertainty due to the government shutdown. Key movers include Nvidia reaching a $5 trillion valuation and Caterpillar beating earnings expectations. The market is also influenced by U.S.-South Korea and potential U.S.-China trade deals, with the DIA ETF rising in tandem with the Dow.
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- Stock Market Today: Dow and S&P 500 edge lower, Nasdaq turns higher as Fed's Powell outlines decision to cut rates and end shrinking of balance sheet MarketWatch
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