Stocks closed higher on Wednesday, with the S&P 500, Dow Jones, and Nasdaq all posting gains. The Fed cut interest rates by 25 bp and signaled a less hawkish tone than expected. The Fed also announced plans to purchase $40 billion in T-bills per month. Wage pressures eased, with the US Q3 employment cost index rising slightly less than expected. US MBA mortgage applications rose +4.8% in the past week, with the average 30-year fixed rate increasing slightly to 6.33%. The FOMC cut the fed funds target range by 25 bp and signaled potential further adjustments to interest rates. Earnings reports are still strong for Q3, with 83% of S&P 500 companies exceeding forecasts. Overseas markets closed lower, and interest rates fell slightly. Chip makers rallied, while mobile grocery delivery services saw losses. Key companies like PepsiCo, Waters Corp, and American International Group saw notable stock movements. AeroVironment and Netflix reported lower stock performance. Earnings reports are expected from Broadcom, Ciena Corp, Costco, Lululemon, and RH on 12/11/2025.

Read more at Barchart: Stocks Rally as Fed Cuts Interest Rates and Boosts Liquidity