Federal Reserve and Economic Indicators - The Federal Open Market Committee (FOMC) cut interest rates by 25 basis points to a range of 4.00% to 4.25%, with expectations for another cut in October and December [2] - The Fed noted a moderation in economic activity, with slowed job gains and a slight increase in the unemployment rate, while inflation remains elevated [5] - Business investment has accelerated compared to the previous year, despite a slowdown in consumer spending and a weakened housing sector [6] Stock Market Reactions - Following the Fed's announcement, the Dow Jones Industrial Average initially surged but closed with a 0.6% gain, while the S&P 500 and Nasdaq Composite experienced declines of 0.1% and 0.3% respectively [9] - Small-cap stocks, particularly the Russell 2000 Index, rallied, reflecting a positive response to lower interest rates, closing modestly higher [7] Housing Market Trends - Housing starts fell by 8.5% month-over-month in August, reversing previous gains, while building permits decreased by 3.7%, indicating a downtrend influenced by high mortgage rates [12] - A 2% decline in mortgage rates is suggested as necessary to stimulate the housing market [12] Company-Specific Developments - Nvidia's stock declined by 2.6% after reports of a ban by China's internet regulator on tech companies purchasing its products, which may be used as leverage in U.S.-China trade negotiations [10][11] - StubHub completed its IPO, pricing approximately 34 million shares at $23.50 each, raising about $800 million, with its stock opening at $25.35 and closing at $22.00 [13][14]