FX.co ★ US Stocks Cautious Ahead of Fed

U.S. stock markets remained largely unchanged on Tuesday as traders processed new labor market data in advance of the Federal Reserve's upcoming interest rate decision. The S&P 500 saw a modest increase of 0.1%, the Dow Jones advanced by 90 points, while the Nasdaq remained nearly steady. The market anticipates a 25 basis point rate cut on Wednesday, but the focus will be on the Fed’s revised economic forecasts amid ongoing uncertainty regarding the pace of policy easing projected for 2026. Concurrently, the JOLTS job openings for September and October surpassed expectations. In the corporate realm, Nvidia experienced a 1% decline following reports that China might curtail domestic chip purchases in response to President Trump's decision to allow the company to sell H200 processors to China, contingent on 25% of sales revenue being directed to the U.S. government. Home Depot saw a drop of over 1% after issuing a forecast for 2026 earnings growth that fell short of expectations. Investors also monitored the ongoing bidding war between Paramount and Netflix for Warner Bros.