Stock market today: Dow, S&P 500, Nasdaq steady as Fed holds rates steady, forecasts 2 cuts in 2025
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Diverging Reports Breakdown
Stock market today: Dow, S&P 500, Nasdaq waver as Fed holds rates steady, forecasts 2 cuts in 2025
The Dow Jones Industrial Average (^DJI) was just below the flat line. The S&P 500 (^GSPC) was up about 0.1% while the Nasdaq Composite (^IXIC) rose about 1%. The central bank held rates steady for the fourth meeting in a row. The median official’s forecast for the federal funds rate at the end of 2025 was 3.9%, which would likely represent two 25-basis-point cuts this year.
The Dow Jones Industrial Average (^DJI) was just below the flat line. The S&P 500 (^GSPC) was up about 0.1% while the Nasdaq Composite (^IXIC) rose about 0.3%.
The central bank held rates steady for the fourth meeting in a row. It also released its latest Summary of Economic Projections (SEP), including its “dot plot,” which maps out policymakers’ expectations for where interest rates could be headed in the future.
The median official’s forecast for the federal funds rate at the end of 2025 was 3.9%, which would likely represent two 25-basis-point cuts this year. However, officials were more divided on that path, with a handful forecasting no change to rates.
Fed Chair Jerome Powell said the right move for the central bank at this juncture was to hold steady to study the near-term path of inflation.
“What we are waiting for to reduce rates is to understand what will happen with the tariff inflation. There is a lot of uncertainty about that,” Powell said, adding, “Ultimately, the cost of the tariffs has to be paid.”
Read more: The latest on Trump’s tariffs
Markets are also on alert for any sign that the US has joined the Middle East conflict, which has swung stocks around since it broke out last week. President Trump demurred Wednesday when asked if he’s moving closer to bombing Iran. “I may do it. I may not do it. I mean, nobody knows what I’m going to do,” he said.
Iran has warned it will respond firmly if the US crosses a red line into involvement and has reportedly readied missiles for strikes on US bases in the region if it does.
Oil prices nudged higher. Brent futures (BZ=F), the international benchmark, were roughly flat above $76 a barrel while West Texas Intermediate (CL=F) crude traded just below $75.
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Stock market today: Dow, S&P 500, Nasdaq waver as Fed holds rates steady, forecasts 2 cuts in 2025
The Dow Jones Industrial Average (^DJI) was just below the flat line. The S&P 500 (^GSPC) was up about 0.1% while the Nasdaq Composite (^IXIC) rose about 1%. The central bank held rates steady for the fourth meeting in a row. The median official’s forecast for the federal funds rate at the end of 2025 was 3.9%, which would likely represent two 25-basis-point cuts this year.
The Dow Jones Industrial Average (^DJI) was just below the flat line. The S&P 500 (^GSPC) was up about 0.1% while the Nasdaq Composite (^IXIC) rose about 0.3%.
The central bank held rates steady for the fourth meeting in a row. It also released its latest Summary of Economic Projections (SEP), including its “dot plot,” which maps out policymakers’ expectations for where interest rates could be headed in the future.
The median official’s forecast for the federal funds rate at the end of 2025 was 3.9%, which would likely represent two 25-basis-point cuts this year. However, officials were more divided on that path, with a handful forecasting no change to rates.
Fed Chair Jerome Powell said the right move for the central bank at this juncture was to hold steady to study the near-term path of inflation.
“What we are waiting for to reduce rates is to understand what will happen with the tariff inflation. There is a lot of uncertainty about that,” Powell said, adding, “Ultimately, the cost of the tariffs has to be paid.”
Read more: The latest on Trump’s tariffs
Markets are also on alert for any sign that the US has joined the Middle East conflict, which has swung stocks around since it broke out last week. President Trump demurred Wednesday when asked if he’s moving closer to bombing Iran. “I may do it. I may not do it. I mean, nobody knows what I’m going to do,” he said.
Iran has warned it will respond firmly if the US crosses a red line into involvement and has reportedly readied missiles for strikes on US bases in the region if it does.
Oil prices nudged higher. Brent futures (BZ=F), the international benchmark, were roughly flat above $76 a barrel while West Texas Intermediate (CL=F) crude traded just below $75.
LIVE
22 updates