the Fed does cut rates next week, it would mark the fourth rate cut this year, bringing the federal funds rate to a range of 1.50% to 1.75%. This move is seen as a preemptive measure to combat any potential economic slowdown amid ongoing trade tensions and global uncertainties. Investors will be closely watching the Fed’s language and projections for any hints on future rate moves.
Overall, the stock market rallied on Wednesday, fueled by strong performances from Big Tech companies and positive inflation data. The tech-heavy Nasdaq led the gains, with the “Magnificent Seven” tech stocks surging to record highs. The S&P 500 and Dow Jones also posted solid gains, while bitcoin prices soared above $100,600 a token.
In the midst of this market rally, Macy’s stock struggled to recover from earlier losses after the department store chain lowered its full-year profit guidance. Meanwhile, Super Micro Computer continued to decline despite CEO comments that the company is not at risk of being delisted from the Nasdaq.
Looking ahead, investors will continue to monitor inflation data, the Fed’s upcoming rate decision, and any developments in the ongoing trade negotiations. The market remains volatile, with uncertainties and risks lingering, but for now, investors are optimistic about the outlook for the tech sector and the broader market.