Wall Street ends mixed after Fed cuts

New York closed the day trading in mixed territory, after the Federal Reserve (Fed) cut interest rates by 25 basis points.

After nine months without lowering rates, the Fed made its first 25 basis point cut of the year, and is forecasting two more cuts this year.

The Dow Jones was the only index to register gains, of 0.57% to 46,018.50 points. The S&P 500 fell 0.09% to 6,601.02 points and the Nasdaq fell 0.33% to 22,261.33 points.

American Express rose 2.74%, Caterpillar gained 2.26%, Visa increased 1.76%, P&G added 1.45%, and Salesforce advanced 1.37%. Countercyclically, Nvidia lost 2.60%, Home Depot fell 1.06%, Amazon slipped 1.03%, 3M slipped 0.86%, and Sherwin-Williams fell 0.82%.

In the oil market, Texas-based WTI lost 0.82%, settling at $64 per barrel, while Brent fell 0.80% to $67.92. Natural gas fell 0.93% to $3.074.

In the foreign exchange market, the euro depreciated 0.36% against the dollar, settling at 1.1824 dollars.