Gregg Maloney works on the floor at the New York Stock Exchange in New York, Wednesday, Dec. 10, 2025.
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The U.S. stock market neared its all-time high after the Federal Reserve cut its main interest rate to bolster the job market, and hopes strengthened for more cuts to come in 2026. The S&P 500 climbed 0.7% and ended just shy of its all-time high set in October. The Dow Jones Industrial Average jumped 1%, and the Nasdaq composite rose 0.3%. The rate cut was widely expected. Some investors found encouragement from comments by Fed Chair Jerome Powell, which they said were less forceful about shutting down the possibility of future cuts than they had been anticipating. Treasury yields eased.
Most U.S. stocks are rising on Wall Street, but a big drop for Oracle is holding the market back as the tech giant contends with worries about whether its spending on artificial-intelligence technology will pay off. The S&P 500 fell 0.4% in early trading Thursday, and the Nasdaq composite sank 0.8%. The Dow Jones Industrial Average rose 184 points, or 0.4%. Stocks got some help from easing Treasury yields in the bond market. Yields fell after a report said the number of workers applying for unemployment benefits jumped last week by more than expected.
