The S&P 500 Index ($SPX) (SPY) today is up by +0.13%, the Dow Jones Industrials Index ($DOWI) (DIA) is up by +0.23%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up by +0.53%.
The Federal Reserve delivered a widely anticipated policy decision this afternoon, marking its second consecutive interest rate reduction. The Federal Open Market Committee (FOMC) approved the cut—setting the benchmark rate in the 3.75%-4% range—despite having limited visibility on the recent economic landscape due to the government shutdown. Furthermore, the Fed revealed a significant change to its balance sheet strategy: it will end the process of quantitative tightening (the reduction of its asset purchases) on December 1. The rate decision was passed with a vote of 10 to 2.
