Small Caps Extend Record Run, GE Vernova Rallies: What's Moving Markets Wednesday?
Piero Cingari 10 months ago
EquitiesLarge CapMacro Economic EventsBroad U.S. Equity ETFsTop StoriesEconomicsTechETFs
U.S. stocks edged higher Wednesday ahead of the highly awaited Federal Open Market Committee decision, with investors broadly expecting a third straight 25-basis-point rate cut.
U.S. stocks edged higher Wednesday ahead of the highly awaited Federal Open Market Committee decision, with investors broadly expecting a third straight 25-basis-point rate cut.
The Fed will also release updated macro projections, including a new dot plot outlining policymakers' preferred rate path. Economists warn that while a December cut appears likely, officials may adopt a more cautious stance heading into 2026, opening the door to a prolonged pause.
The Dow Jones rose 250 points, or 0.5%, to 47,810. The small-cap Russell 2000 extended its record run, up 0.3% to 2,535. The S&P 500 and Nasdaq 100 were little changed as traders awaited the Fed's statement and earnings from Oracle Corp. (NASDAQ:ORCL) and Adobe Inc. (NASDAQ:ADBE) after the bell.
GE Vernova Inc. (NYSE:GEV) was the day's standout performer, jumping 14% after the company raised its outlook during Tuesday's Investor Day.
Uber Technologies Inc. (NASDAQ:UBER) lagged the most within the S&P 500, sliding more than 5% after a 3.8% drop on Tuesday as regulatory pressure in Europe intensified and Morgan Stanley trimmed its price target.
Silver's blockbuster rally accelerated, pushing the metal to $61 an ounce. It is now up 112% year-to-date, on track for its strongest annual performance since 1979. In cryptocurrencies, Bitcoin (CRYPTO: BTC) slipped 0.6% to $92,000, while Ethereum (CRYPTO: ETH) rose 1% to $3,350.
Wednesday's Performance In Major US Indices, ETFs
| Major Indices | Price | % Change |
|---|---|---|
| Nasdaq 100 | 25,613.51 | -0.2% |
| S&P 500 | 6,846.38 | 0.1% |
| Dow Jones | 47,785.09 | 0.5% |
| Russell 2000 | 2,533.90 | 0.3% |
According to Benzinga Pro data:
- The Vanguard S&P 500 ETF (NYSE:VOO) flattened at $628.44.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) moved 0.44% to $478.54.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) eased 0.21% to $623.73.
- The iShares Russell 2000 ETF (NYSE:IWM) traded 0.3% higher to $252.28.
- The Industrials Select Sector SPDR Fund (NYSE:XLI) outperformed, up 0.8%; the Technology Select Sector SPDR Fund (NYSE:XLK) lagged, down 0.3%.
Russell 1000's Top 5 Gainers On Wednesday
| Stock Name | % Change |
|---|---|
| GE Vernova Inc. | +14.22% |
| Americold Realty Trust (NYSE:COLD) | +10.08% |
| Rocket Lab USA Inc. (NASDAQ:RKLB) | +7.21% |
| The Middleby Corporation (NASDAQ:MIDD) | +6.52% |
| Ally Financial Inc. (NYSE:ALLY) | +5.68% |
Russell 1000's Top 5 Losers On Wednesday
| Stock Name | % Change |
|---|---|
| Lyft Inc. (NASDAQ:LYFT) | -7.13% |
| Maplebear Inc. (NASDAQ:CART) | -6.43% |
| Uber Technologies Inc. (NYSE:UBER) | -5.44% |
| Duolingo Inc. (NASDAQ:DUOL) | -5.32% |
| GameStop Corp. (NYSE:GME) | -5.11% |
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Image created using artificial intelligence via Midjourney.