U.S. Markets close in 5 hrs 44 mins

Stock Market Gauges Barely Budge as Fed Decision Looms

Nicholas Jasinski

The most significant macro-level directional drivers in recent months—trade policy and central-bank moves—appeared to be baked into the major indexes. The largest one-day move in either direction was a 0.74% drop for the Nasdaq Composite on Friday, while the Dow Jones Industrial Average never closed more than 0.42% away from its opening level. The market is certain that the Federal Reserve will cut interest rates at the end of the month, with the only remaining debate over whether it will be 0.25 or 0.50 of a percentage point from the current target range of 2.25% to 2.50%.