US Stock Market Volatility Ahead of Fed Announcement

U.S. stock indexes showed modest gains as investors await the Federal Reserve's decision on interest rates, with expectations leaning towards a quarter-point cut, the third of 2024. The S&P 500 is nearing its all-time high, supported by strong performances from companies like Jabil and Nvidia, while General Mills experienced a drop in stock price despite exceeding profit expectations. Market analysts are particularly focused on Fed Chair Jerome Powell's comments regarding future rate cuts in 2025, as stubborn inflation threatens to alter previously optimistic projections. Concurrently, the cryptocurrency market is experiencing significant declines, with Bitcoin and Ethereum dropping as volatility looms in anticipation of the Fed's announcement. The broader market sentiment reflects caution, with some investors booking profits while monitoring economic indicators like retail sales and industrial production. As Wall Street navigates these turbulent conditions, the potential for further market volatility remains high depending on the Fed's guidance and economic data releases.