Fed's Rate Cut Leaves Wall Street Unsettled: Nasdaq Surges on Nvidia's Milestone

The Federal Reserve's decision to cut interest rates stirred mixed reactions on Wall Street as Fed Chair Jerome Powell signaled uncertainty about future cuts. While the Nasdaq benefited from Nvidia's milestone market valuation, doubts lingered over another rate cut amidst strong earnings reports from major companies.

The Federal Reserve's recent decision to lower interest rates failed to boost investor confidence, as concerns about future cuts surfaced. Chairman Jerome Powell's remarks suggested that a December rate cut is not guaranteed, leading traders to adjust their bets significantly.

However, Nvidia's remarkable achievement of surpassing a $5 trillion market valuation provided a positive note, driving the Nasdaq higher. The S&P 500 ended marginally up, while the Dow dipped, reflecting the market's overall uncertainty amid economic shifts.

Market focus now shifts to upcoming earnings reports from major tech giants like Meta, Microsoft, and Alphabet. Early indicators show robust earnings performance, with 85% of reporting S&P 500 companies surpassing expectations, adding complexity to the Fed's monetary policy decisions.

(With inputs from agencies.)