by Caroline Valetkevitch
(Reuters) – The New York Stock Exchange ended mixed on Wednesday after the Federal Reserve signaled the prospect of a key rate cut in coming months, while the S&P 500 notched its biggest gains weekly in 2024.
The Dow Jones index lost 0.77%, or -305.47 points, to 39,475.90 points. The broader Standard & Poor’s 500 lost -7.35 points, or 0.14% to 5,234.18 points. The Nasdaq Composite advanced 26.98 points (0.16%) to 16,428.818
The American Federal Reserve (Fed) confirmed on Wednesday that it still plans three rate cuts this year.
“The market has realized that the Fed is no longer its enemy and could eventually be its friend,” said Matt Stuckyn, chief equity portfolio manager at Northwestern Mutual Wealth Management Company.
In terms of values, Nike’s action fell 6.9% after the American equipment manufacturer’s warning on its turnover for the first half of the 2025 fiscal year, now expected to decline.
FedEx jumped 7.4% after the group on Thursday revised its profit forecast for 2024 and reported a 2.5% increase in the operating margin of its main division, Express.
(French version Zhifan Liu)
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