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Stock Market Today: Dow Jones, S&P 500, Nasdaq 100 Futures Drop After Fed Keeps Rates Unchanged — MSFT, GOOG, TMUS in Focus (UPDATED)

Reviewed by ClearTape · Source: Benzinga

Key takeaways

  • Fed

    The Federal Reserve — the US central bank that influences interest rates and money conditions.

    Learn more →

    holds rates steady amid solid growth, sending equity futures lower but tech earnings split the market.
  • Fed

    The Federal Reserve — the US central bank that influences interest rates and money conditions.

    Learn more →

    rate 3.75%-4%
  • Q3 GDP 3.4% annual
  • Jobless claims 194,000

What happened

U.S. stock futures fell after the Federal Reserve kept its benchmark interest rate unchanged at 3.75%-4%, matching expectations. The Dow Jones, S&P 500 and Nasdaq 100 futures slipped 0.29%, 0.39% and 1.19% respectively. Meanwhile, the economy showed stronger growth with Q3 GDP at a 3.4% annual rate, and jobless claims edged down to 194,000. Tech names Microsoft and T‑Mobile rose on earnings beats, while Alphabet fell after missing estimates.

Why it matters

The

Fed

The Federal Reserve — the US central bank that influences interest rates and money conditions.

Learn more →

’s decision signals that it sees inflation still high enough to keep rates steady, which can weigh on equity valuations, especially in growth stocks. Strong GDP and falling jobless claims suggest the economy is still expanding, supporting corporate earnings. The mixed earnings from big tech firms highlight…

Short-term and longer-term

Short-term. In the next day or two, watch how the

Fed

The Federal Reserve — the US central bank that influences interest rates and money conditions.

Learn more →

’s steady rate influences short‑term equity moves, especially in growth names.

Longer-term. Over the coming months, the

Fed

The Federal Reserve — the US central bank that influences interest rates and money conditions.

Learn more →

’s decision to hold rates may extend the current high‑rate environment, affecting long‑term corporate debt costs.

Words on this card

Federal Reserve Learn
The U.S. central bank that sets benchmark interest rates and regulates the money supply.
Benchmark interest rate
The main rate the Fed uses to influence borrowing costs across the economy.
Treasury yield
The return investors earn on U.S. government bonds, reflecting expectations for future rates.
GDP
Gross Domestic Product, the total value of goods and services produced in the economy.
Jobless claims
The number of people filing for unemployment benefits for the first time.
PCE Learn
Personal Consumption Expenditures, a measure of consumer spending and inflation.

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