Wall Street mixed
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President Donald Trump has “got his wish” of lower interest rates amid his ongoing battle to seize control of the Federal Reserve, the Wall Street Journal’s conservative editorial board wrote on Wednesday.
Tech stocks lead Wall Street to potential new records following a USD 5 billion deal between Nvidia and Intel. While Intel shares surged, Cracker Barrel faced a decline due to sales warnings. The Federal Reserve's interest rate cut influenced market activities amid persistent inflation challenges.
Wall Street futures pointed to a subdued open on Wednesday as markets stalled ahead of a widely anticipated interest-rate cut from the Federal Reserve later in the day, while Nvidia slipped after a report Chinese tech firms might stop buying its chips.