Stock Market Today: Dow Jones, S&P 500 Futures Slip Day After Fed's Rate Cut—Oracle, Broadcom, Costco In Focus

Market Overview - U.S. stock futures declined on Thursday following gains on Wednesday, with major indices showing lower futures [1][2] - The Federal Reserve cut interest rates by 25 basis points to a range of 3.5%–3.75%, marking the third consecutive reduction and highlighting a policy divide within the central bank [1] - The Fed will also resume quantitative easing by purchasing approximately $40 billion in shorter-maturity Treasury bills each month [1] Treasury Yields - The yield on the 10-year Treasury bond was 4.14%, while the two-year bond yield stood at 3.53% [2] - Market expectations indicate an 80.1% likelihood that the Federal Reserve will maintain current interest rates [2] Stock Performance - Major indices showed the following changes: Dow Jones -0.16%, S&P 500 -0.53%, Nasdaq 100 -0.72%, Russell 2000 -0.01% [2] - The SPDR S&P 500 ETF Trust (SPY) decreased by 0.52% to $683.99, and the Invesco QQQ Trust ETF (QQQ) fell by 0.72% to $623.08 in premarket trading [2] Company Highlights - Oracle Corp. experienced a significant drop of 11.01% after reporting mixed second-quarter results for fiscal 2026 [5] - Adobe Inc. saw a slight decline of 0.62% despite exceeding fourth-quarter earnings expectations, projecting fiscal 2026 GAAP EPS between $17.90 and $18.10 [4][6] - Broadcom Inc. fell by 1.98% ahead of its earnings report, with analysts expecting earnings of $1.86 per share on revenue of $17.1491 billion [5] - Costco Wholesale Corp. rose by 0.18%, with analysts anticipating earnings of $5.39 per share on revenue of $6.11 billion [5] Analyst Insights - Expert opinions on the Federal Reserve's actions are divided, with some criticizing the resumption of Treasury purchases as a sign of systemic weakness [9] - Michael Burry expressed concerns about the implications of the Fed's actions, while economist Peter Schiff labeled the strategy as "QE5" and warned of potential inflation [9] - Conversely, some analysts remain optimistic, with projections of favorable economic conditions [9][10] Commodities and Global Markets - Crude oil futures fell by 1.51% to around $57.59 per barrel, while gold prices decreased by 0.21% to approximately $4,219.72 per ounce [11] - Bitcoin traded 2.77% lower at $90,325.90 per coin [11] - Asian markets closed lower, with exceptions in India's NIFTY 50 and Australia's ASX 200 indices, while European markets showed gains in early trading [12]