Wall Street saw a cautious tone on Thursday as major tech-heavy indexes edged lower, weighed down by mixed earnings from the mega-caps and the lingering impact of hawkish remarks from Fed Chair Jerome Powell the day before.
Following the Federal Reserve's widely anticipated 25-basis-point rate cut, Powell poured cold water on speculation of another move in December, stressing that an additional reduction is "far from a foregone conclusion." Traders swiftly pared bets for a year-end cut, pricing in a 65% chance versus nearly 100% just a day earlier.
