Pre-markets Advance Ahead of FOMC Rate Cut
Pre-markets are continuing their upward trend, with three major indexes reaching all-time highs. The Dow is up 79 points (+0.16%), the S&P 500 is up 13 points (+0.19%), and the Nasdaq is up 88 points (+0.34%). The Russell 2000 is slightly down, losing 2 points.
The market is awaiting a 25 basis-point interest rate cut from the Fed at today's Federal Open Market Committee (FOMC) meeting, which will bring the Fed funds rate down to 3.75-4.00%. This will be the second cut of the late 2025 cycle and is expected to extend to the FOMC December meeting.
This rate cut will bring the Fed funds rate to its lowest level since mid-December 2022, when the Fed was increasing interest rates.
No direct quote available in the text.
Author's summary: Markets rise ahead of expected FOMC rate cut.
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