Pre-markets Advance Ahead of FOMC Rate Cut
Pre-markets are advancing, with three major indexes reaching all-time highs, except for the small-cap Russell 2000, which is slightly off.
The current standings are: Dow +79 points (+0.16%), S&P 500 +13 points (+0.19%), Nasdaq +88 points (+0.34%), and Russell 2000 -2 points.
A 25 basis-point interest rate cut is expected from the Fed at today's Federal Open Market Committee (FOMC) meeting, bringing the Fed funds rate down to 3.75-4.00%, the lowest since mid-December 2022.
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Author's summary: Markets advance ahead of FOMC rate cut decision.