Wall Street Holds Off on Big Bets Ahead of Fed Day: Markets Wrap
US Federal Reserve Chair Jerome Powell arrives for a news conference following the October Federal Open Market Committee (FOMC) meeting in Washington, DC.
Photographer: Al Drago/BloombergWith less than 24 hours to go until the Federal Reserve’s final interest-rate decision of 2025, Wall Street traders put off placing big bets as they waited for clues to the central bank’s path for next year.
The S&P 500 ended Tuesday’s session little changed after JPMorgan Chase & Co. warned about higher-than-expected costs and called consumers “fragile.” The lender fell more than 4%. The blue-chip Dow slid while the Nasdaq 100 made a small advance. The rate on 10-year Treasuries hovered at around 4.19% following a government bond auction, while the dollar was little changed and Bitcoin climbed.