Indexes commenced trading on a positive note Wednesday, with the S&P 500 and Nasdaq achieving new record highs, in anticipation of the Federal Reserve’s forthcoming interest rate decision and earnings announcements from various technology leaders, as Nvidia marked a significant milestone by becoming the first company to reach a $5 trillion valuation. The tech-heavy Nasdaq, blue-chip Dow Jones Industrial Average, and benchmark S&P 500 experienced increases of 0.7%, 0.4%, and 0.3% respectively at the opening, following a third consecutive session in which all three indexes achieved both intraday and closing records yesterday. At 2 p.m., the Federal Reserve is anticipated to reduce interest rates by 25 basis points, establishing a target range of 3.75% to 4%. This marks a consecutive decrease following the action taken in September, with a press conference from Fed Chair Jerome Powell scheduled to occur 30 minutes later.

Analysts project that the Federal Reserve may soon conclude its quantitative tightening initiative, potentially by December, in response to tightening liquidity conditions. Investors are monitoring developments in U.S.-China trade discussions. President Donald Trump is scheduled to engage in discussions with Chinese leader Xi Jinping in South Korea on Thursday. Nvidia shares, which jumped 5% to an all-time high yesterday, were up a further 4% at the bell, making the chipmaking giant the first company to be worth $5 trillion. Magnificent Seven members Microsoft, Meta Platforms, and Google parent Alphabet were up a respective 0.2%, 0.4%, and 0.8% before all report quarterly earnings after markets close today. The market capitalizations of both Microsoft and Apple exceeded $4 trillion yesterday. Apple and Amazon—which announced on Tuesday a reduction of approximately 14,000 roles in its corporate workforce—are scheduled to report earnings after the market closes on Thursday. At the open, their shares exhibited minimal movement, with a slight increase of 0.7% for Amazon.

Shares of Caterpillar soared 9% following the announcement of stronger-than-expected results, while those of fellow Dow component Boeing ticked higher despite reporting weaker-than-expected profit and incurring a $4.9 billion charge “associated with updated 777X certification timing.” Centene stock soared 10% after the healthcare company posted an unexpected adjusted profit and lifted its full-year outlook. Fiserv plummeted 45% after the fintech firm announced weaker-than-expected results and indicated it would be changing its listing, leadership team, and board.

Gold futures experienced a rebound, surpassing the $4,000 per ounce mark, with an increase of 1.2% to reach $4,030 in recent trading sessions. West Texas Intermediate crude oil futures exhibited minimal fluctuation, settling at $60.15 per barrel. The 10-year Treasury yield remained relatively stable at 3.99%, whereas the U.S. dollar index, which measures the value of the greenback against a selection of foreign currencies, increased by 0.1% to 98.79. Bitcoin was trading in a narrow range and recently stood at $113,500.