US Stock Market Today: Dow Jones, Nasdaq Edge Higher As Wall Street Anticipates Fed Rate Cut
S&P opened 0.23% or 15.59 points higher at 6,890.75, tech-heavy Nasdaq opened 0.52% or 123.92 points up at 23,761.38 and Dow Jones opened 0.58% or 277.57 points higher at 47,822.16.
The US stock market opened in the green on Tuesday, ahead of the Federal Reserve meeting scheduled on Oct. 29, 2025.
The S&P 500 opened 0.23% or 15.59 points higher at 6,890.75, tech-heavy Nasdaq opened 0.52% or 123.92 points up at 23,761.38 and Dow Jones opened 0.58% or 277.57 points higher at 47,822.16.
As of 7:32 p.m. (IST), S&P was trading little changed, while Dow Jones and Nasdaq Composite were trading 0.58% and 0.37% higher, respectively. This comes as the market is anticipating a 25-basis-point rate cut to be announced by the US Federal Reserve on Wednesday.
The probability of a quarter percentage point reduction stood at 96.7%, whereas there is only a 3.3% chance of Fed maintaining a status quo, according to the CME FedWatch tool.
Apple Inc.'s stock zoomed past $4 trillion market capitalisation, which given an impetus to other tech stocks as well.
"The stock market is getting everything it wants, from a Federal Reserve rate cut to a thawing of U.S-China trade tensions to continued strength in earnings," Granite Bay Wealth Management's Paul Stanley told news agency Bloomberg.
Apple's shares have risen over 13% since the latest launch on Sept. 9. On Tuesday the shares rose over 0.39% to $269.87 per share before paring gains to trade 0.17% at $269.28 per share.
Intel Corp., and Microsoft Inc. also traded in the green, up by 3.60% and 2.81% respectively. Shares of Tesla were also trading 2% higher at $461.33. Among the biggest losers there were, Everest Group Ltd., Vistra Corp. and Corning Inc., trading 9%, 5.55% and 4.85% down respectively.
Out of the 11 sectoral indices, three traded in the green with gains led by information technology, while from the remaining eight that traded lower, real estate emerged as the biggest laggard.
Spot gold fell 0.88% to $3,949.32 an ounce. Crude oil prices fell, with the West Texas trading 1.17% lower at $60.62 per barrel.
The Bloomberg Dollar Index was little changed, with the British Pound falling 0.6% to $1.3261 and the Japanese yen rising 0.4% to 152.26 per dollar. Bitcoin, the largest traded cryptocurrency was up 0.5% to $115,071.75.
