US stocks today: Wall Street trades mixed ahead of Fed meeting; Dow jumps over 270 points, S&P remains flat – The Times of India

Wall Street traded mixed on Wednesday as investors waited for the Federal Reserve’s afternoon announcement, expected to bring the first interest rate cut of the year.DJIA jumped 271 points or 0.59%, reaching 46,029 while Nasdaq slipped 76 points or 0.34% to 22,257. S&P 500 traded at 6,603, down 3 points or 0.05% at 7:35 PM IST.Workday was among the biggest gainers, climbing 6.9% after Elliott In General Millvestment Management revealed it had acquired a stake of over $2 billion and expressed support for the company’s management. The software firm, which helps businesses manage finances and human resources, also expanded its share buyback programme to $4 billion.Meanwhile, General Mills fell 1.9%. The food giant posted higher-than-expected profits for the latest quarter, though revenue roughly met forecasts.The focus, however, remains on the Fed. While a 0.25 percentage point rate cut is widely expected, traders are watching closely for hints about further reductions. Many economists predict the Fed will continue easing rates this year and into next to support a weakening job market.Recent reports suggest it is becoming harder to find work, which may have shifted the Fed’s focus from inflation to employment. So far, the central bank has kept rates steady to prevent inflation from rising above its 2% target, particularly amid concerns that US President Donald Trump’s tariffs could increase prices.Stocks have climbed in anticipation of easier rates, but Wall Street could react if Fed Chair Jerome Powell signals fewer cuts than expected. The Fed will also release projections for interest rates and inflation in the coming years.Elsewhere, RCI Hospitality Holdings tumbled 10.2% after New York’s attorney general accused executives of bribery and other crimes to avoid paying millions in sales taxes. RCI owns strip clubs and sports bars across the U.S., including Rick’s Cabaret.Later in the day, online ticket marketplace StubHub will debut on the New York Stock Exchange under the ticker “STUB,” with shares priced at $23.50 in its initial public offering.Markets abroad were mixed. Japan’s Nikkei 225 slipped 0.2% after data showed exports to the U.S. fell 13.8% in August compared with a year earlier, affected by tariffs on cars.In the bond market, the yield on the 10-year Treasury eased slightly to 4.02% from 4.04% late Tuesday.