Federal Reserve Cuts Rates by 25 Basis Points, Major Averages Close Higher

The major averages closed the day broadly higher after the Federal Reserve cut the federal funds rate by 25 basis points, a reduction many had anticipated. The Fed said policymakers' median projection for the end of 2026 has the funds rate at 3.4%, adding that economic activity is expanding, though unemployment "edged up." Of note, Fed chair Jay Powell said that recent rate cuts should help stabilize the labor market, and that near-term risks to inflation are "tilted to the upside."Looking to commodities, gold was fractionally higher, with the commodity continuing its up-and-down run. Oil prices, meanwhile, closed higher after a downward turn earlier in the session.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:GE Vernovadoubled its quarterly dividend, raised its buyback authorization, updated its FY25 revenue guidance, andCracker Barrelreportedand cut its FY26 revenue guidanceSK Hynix is exploring a U.S. listing to lift its global valuation,Amazonwill pay Italian tax authorities EUR723M in a settlement,The Federal Reservefor its third straight meeting, with three dissents, and issued projections that point to one cut being expected in 20262. WALL STREET CALLS:GE Vernovato Outperform at RBC Capital and Oppenheimer after the company raised its medium-term outlookEchoStarto Overweight at Morgan StanleyPepsiCoto Overweight at JPMorganRobloxwith a Buy at B. RileyHSBCBiogento Reduce, its sell-equivalent rating3. AROUND THE WEB:Chubbhas made an informal takeover approach for AIG,After Netflixannounced its deal for Warner Bros. Discovery, Larry Ellison called President Donald Trump to argue it would hurt competition,Nvidiahas built location verification technology to indicate what country its chips are operating in, a move that could help prevent the chips from being smuggled into countries where the export is banned,AirbusCEO Guillaume Faury said it was possible Boeingwould win in the annual order race for the first time in six years,CoupangCEO Park Dae-jun has resigned and is taking responsibility for a massive data breach at the company,s4. MOVERS:Brazeincreases afterand raising its guidance for FY26Photronicsand Dave & Buster'sgain afterTerns Pharmaceuticalshigher after announcing aAeroVironmentfalls afterand cutting its guidance for FY26Instacartand DoorDashlower after Amazon5. EARNINGS/GUIDANCE:Chewy, with EPS and revenue beating consensusJ.Jilland provided guidance for FY25 and Q4, with CEO Mary Ellen Coyne commenting, "We delivered better than expected earnings results with topline at the high end of our expectations"Hello Group, with EPS and revenue lower year-over-yearREV Group, with EPS and revenue beating consensusDaktronics, with interim CEO Brad Wiemann commenting, "We delivered another solid quarter of revenue and profit expansion"INDEXES:The Dow rose 497.46, or 1.05%, to 48,057.75, the Nasdaq gained 77.67, or 0.33%, to 23,654.16, and the S&P 500 advanced 46.17, or 0.67%, to 6,886.68.