FX.co ★ US Stocks Remain Volatile After Fed

On a volatile Wednesday afternoon, U.S. stocks experienced a notable uptick as investors evaluated the Federal Reserve's monetary policy following the anticipated 25 basis point rate cut. The S&P 500 and Nasdaq 100 registered modest gains, while the Dow climbed by 300 points, buoyed by traditional economic sectors. According to the median projections from the Federal Open Market Committee (FOMC) members, two further rate reductions are anticipated this year. However, strong projections regarding real economic growth, employment rates, and upward revisions in core inflation cast doubt on any aggressive rate cuts next year. Consumer staples and credit services sectors saw an increase, with American Express and Procter & Gamble both rising approximately 2%. Conversely, technology stocks faced declines. Reports indicating a potential ban by Chinese authorities on the purchase of Nvidia chips led to Nvidia and Broadcom's shares falling by 3.5% and 4.5%, respectively. Additionally, Oracle and Palantir saw decreases of over 3%, while Amazon, Meta, Alphabet, and Tesla each dropped over 1.5%.