Wall Street’s key stock indices were mixed on Wednesday ahead of a widely anticipated interest-rate cut from the Federal Reserve later in the day.

At 10:08 AM ET, the Dow Jones Industrial Average rose 249.20 points, or 0.54%, to 46,007.10, the S&P 500 lost 4.69 points, or 0.07%, to 6,602.07, and the Nasdaq Composite fell 73.47 points, or 0.33%, to 22,259.64.

At the opening bell, the Dow Jones Industrial Average rose 20.5 points, or 0.04%, to 45,778.4. The S&P 500 fell 1.9 points, or 0.03%, to 6,604.87, while the Nasdaq Composite dropped 0.9 points, or flat, at 22,333.016.

The US central bank is overwhelmingly expected to slash interest rates by 25 basis points.

The Fed meeting comes as US President Donald Trump keeps up pressure on Chair Jerome Powell and other policymakers.

After the Fed decision, markets will closely watch Powell’s press conference as well as the “dot plot” projections to gauge the monetary policy outlook ahead.

Gainers and Losers

Nvidia stock declined 2.5% after a report said major Chinese tech companies can no longer buy the American company’s semiconductor chips.

New Fortress Energy stock jumped 31.7% after the company announced a deal to supply liquefied natural gas to the Puerto Rican government.

Workday shares surged 9%. after activist investor Elliott Management revealed it had built a stake of more than $2 billion in the human resources software company.

Lyft stock climbed 14% on the news that Alphabet’s Waymo would launch autonomous cab rides in Nashville in 2026 in collaboration with the ride-hailing company.

Bullion

Gold prices eased on Wednesday as investors took profits after yellow metal hit $3,700-mark in the previous session.

As of 9:10 AM ET (1310 GMT), spot gold was down 0.4% at $3,676.29 per ounce. US gold futures for December delivery dropped 0.4% to $3,711.20.

Among other metals, spot silver slipped 1.9% to $41.76 per ounce, platinum was down 1.6% at $1,367.70 and palladium fell 1.5% to $1,158.14.

Crude Oil

Oil prices fell on Wednesday, after rising more than 1% in the previous session.

By 1249 GMT, Brent crude futures were down 27 cents, or 0.4%, to $68.20 a barrel. US West Texas Intermediate crude futures were down 31 cents, or around 0.5%, to $64.21 a barrel.