The Economic Times·2025-09-18 01:53Summary of Key Points Core Viewpoint - The Federal Reserve indicated a steady approach to cutting interest rates for the remainder of the year, projecting two additional quarter-percentage-point cuts, while expressing concerns about the labor market's weakness and raising its inflation forecast [1][6]. Market Reactions - The Dow Jones Industrial Average rose by 260.42 points (0.57%) to 46,018.32, while the S&P 500 decreased by 6.41 points (0.10%) to 6,600.35, and the Nasdaq Composite fell by 72.63 points (0.32%) to 22,261.33 [6][7]. - Financial stocks, particularly American Express, contributed to the Dow's increase [6]. Company-Specific Developments - Nvidia's shares dropped by 2.6% following reports that China's internet regulator instructed major tech companies to cease purchasing its chips [5][6]. - Workday's stock surged by 7.2% after activist investor Elliott Management acquired a stake exceeding $2 billion in the company [5][6]. - Lyft's shares increased by 13.1% due to news of a collaboration with Alphabet's Waymo to launch autonomous cab rides in Nashville next year, while shares of rival Uber fell by 5% [5][7]. Trading Activity - On the NYSE, declining issues outnumbered advancers by a ratio of 1.02-to-1, and on the Nasdaq, the ratio was 1.1-to-1 [6][7]. - The S&P 500 recorded 18 new 52-week highs and five new lows, while the Nasdaq Composite noted 122 new highs and 45 new lows [6][7]. - Trading volume on U.S. exchanges reached 18.91 billion shares, surpassing the 16.47 billion average over the last 20 trading days [6][7].