Wall Street digested a wave of Big Tech earnings alongside the Federal Reserve’s latest interest rate move, while waiting for President Trump's long-awaited summit with Chinese leader Xi Jinping.

Stocks finish mostly lower even after the Fed cut interest rates and said it will stop shrinking its balance sheet on Dec. 1. Separately, investors are preparing for earnings from three of the Mag 7 mega-cap stocks after the close.

The Dow Jones Industrial Average briefly traded above the 48000-mark on Wednesday. If it closes above that level, it would be the fastest 1,000-point milestone for the blue-chip index, according to Dow Jones Market Data.

US stocks jumped Monday morning after President Trump signaled a trade deal with China is likely to come this week, including an end to export restrictions on critical minerals. The Dow Jones Industrial Average soared 302 points,

The rally in the stock market on Wednesday morning has put the Dow Jones Industrial Average on pace to finish above 48,000 for the first time on record. Wednesday marks just three trading days since the Dow's last 1,

IBM and Advanced Micro Devices created tailwinds for the main indexes after scoring a major quantum-computing win.

In late 2024, Nvidia replaced Intel in the Dow Jones Industrial Average. The Dow Jones Industrial Average is home to some of the most storied, iconic American brands. Companies such as Coca-Cola, Disney, Home Depot, IBM, and Walmart are just a handful of the index's components.

The Dow Jones Industrial Average was having a choppy day, swinging about 560 points from a fresh intraday high above 48,000 for the first time to a session low of 47,473.39, according to FactSet data.