Markets Await Fed's Decision on Interest Rate Cut

Market Overview - Major indexes are reaching all-time highs, with the Dow up 79 points (+0.16%), S&P 500 up 13 points (+0.19%), and Nasdaq up 88 points (+0.34%), while the Russell 2000 is slightly down by 2 points [1] - The Federal Reserve is expected to announce a 25 basis-point interest rate cut, bringing the Fed funds rate to 3.75-4.00%, the lowest since mid-December 2022 [2] Earnings Reports - Boeing reported a disappointing Q3 with a $4.9 billion loss on its 777x delivery, resulting in a -94% negative earnings surprise at -$7.47 per share, although revenues were strong at $23.27 billion, exceeding expectations [5] - Caterpillar's Q3 earnings reached $4.95 per share, beating estimates by +9.5%, with revenues of $17.64 billion, surpassing projections by +5.3%. The company is benefiting from the AI trade [6] - Verizon's Q3 report showed earnings of $1.21 per share, slightly above expectations, but revenues of $33.82 billion missed consensus by -1%. Shares are up +3% in early trading [7] Upcoming Events - The FOMC announcement is anticipated at 2pm ET, followed by earnings reports from major companies including Microsoft, Alphabet, and Meta, with only Meta rated as a Zacks Rank 2 (Buy) [8][9]