FX.co ★ US Stocks Mixed Ahead of FOMC

On Wednesday, the S&P 500 and Nasdaq remained relatively unchanged, while the Dow Jones saw an increase of nearly 200 points. Investors showed caution, choosing not to make significant moves ahead of the Federal Open Market Committee’s policy announcement later in the day. The Federal Reserve is anticipated to lower the federal funds rate by 25 basis points. Market participants are particularly attentive to any signs of dissent, disagreement, and the revised economic projections for insights into future monetary policy directions. Regarding economic indicators, both housing starts and building permits fell short of expectations. Among the sectors, utilities and consumer staples led in performance, while consumer discretionary lagged. In corporate developments, shares of Nvidia declined by roughly 1.6% following a report from the Financial Times. It noted that China’s internet authority had prohibited the nation’s major tech companies from acquiring the company’s AI chips, according to sources familiar with the situation.