Ep48: Mixed Moves & Fed Signals: Record Highs, Rate Cuts, and Quiet Unease — September 17th, 2025

Markets finished mixed on Wednesday after the Federal Reserve delivered its first rate cut of the year, trimming rates by 25 basis points as expected. The Dow gained 0.6% to 46,018.32, while the S&P 500 slipped 0.1% to 6,600.35 and the Nasdaq fell 0.3% to 22,261.33. Small caps fared slightly better, with the Russell 2000 up 0.2%. Chair Jerome Powell tempered enthusiasm by noting that while projections suggest more easing could follow, future moves remain data dependent. Sector highlights included Workday’s 7% jump after news of an activist stake, Lyft’s 13% rally on an autonomous driving expansion, and Tesla’s continued climb. On the downside, Nvidia dropped 2.6% on concerns over Chinese chip demand, while StubHub fell 6% in its IPO debut. Globally, Asia traded cautiously lower and Europe’s STOXX 600 ended flat. In macro flows, the 10-year yield edged up to 4.09%, gold dipped to $3,682/oz, and oil softened with Brent around $68. In crypto, Bitcoin hovered near $116,364, while Ethereum eased to $4,486. This episode gently unpacks the Fed’s decision, the market’s careful response, and the currents shaping global risk sentiment.