Overview
- U.S. benchmarks notched fresh records on Tuesday and edged higher again Wednesday ahead of the Federal Reserve’s policy decision.
- Markets widely expect a quarter‑point rate cut today, with investors focused on Jerome Powell’s guidance for December after limited official data during the U.S. budget paralysis.
- Nvidia became the first company to reach a $5 trillion market value, underscoring sustained enthusiasm for AI‑linked leaders, while Apple briefly crossed $4 trillion this week.
- Optimism over a potential U.S.–China détente has supported risk appetite, following remarks from Treasury official Scott Bessent about possible Chinese concessions in exchange for Washington foregoing additional tariffs.
- European equities remain near peaks but saw selective profit‑taking, as traders weigh a packed earnings slate for Microsoft, Alphabet, Meta, Apple and Amazon that could sway the rally’s next leg.