Stocks were mixed ahead of today's rate-cut announcement by the Federal Reserve, with financials weighing on the Dow Jones Industrial Average. Two of the three major indexes closed in the green on confirmation of current expectations, as investors and policymakers continue to price in the impact of Donald Trump retaking the White House.
In line with the consensus forecast, the Fed cut its benchmark interest rate by 25 basis points on Thursday, to a target range of 4.5% to 4.75%. Officials removed a phrase from the Federal Open Market Committee's policy announcement about "greater confidence" inflation is moving toward their 2% target.
