U.S. stocks rose after the Federal Reserve lowered its benchmark interest rates by 50 basis points to a range of 4.75% to 5%. That was the first rate cut in over four years that marked the beginning of a monetary-easing cycle in the world's largest economy.

The Dow Jones rose ahead of the Fed's interest rate decision and Powell's comments. Nvidia stock is below a key level.

The Dow Jones Industrial Average (DJIA) has pulled into Wednesday’s midrange near 41,500 as investors await the Federal Reserve's (Fed) first rate cut in over four years. Markets kicked off 2024 hoping for an initial rate cut in March, but have thus far been battled all the way back to Q3. Now it finally looks like the Fed is ready to play ball.