About this episode
US equities finished higher in Wednesday trading, ending just a bit off best levels, with the Dow Jones, S&P500, and Nasdaq closing up 105bps, 67bps, and 33bps respectively. FOMC in focus today with a 25 bp rate cut, three dissents, forward guidance tweak and plans to purchase $40B/month in Treasury bills. Elsewhere, Q3 ECI rose 80bps, a bit below Q2's 90bps and just shy of consensus. GE Vernova providing some positive AI-related commentary ahead of Oracle and Broadcom results. Sanguine conference commentary on US consumer, buyback tailwinds among other highlights of the day.