Wall Street experiences mixed movements ahead of the Fed's policy decision.

US stocks moved mixed in the trading session on December 9, as investors awaited policy signals from the US Federal Reserve (Fed), although the market still expected the bank to lower interest rates at its meeting this week.

Activities at the New York Stock Exchange, USA. Photo: THX/VNA

The S&P 500 edged lower during the session, with JPMorgan becoming the biggest drag on the index after warning of sharply rising costs in 2026.

At the close of trading, the Dow Jones index fell 179.03 points (0.38%) to 47,560.29; the S&P 500 lost 6 points (0.09%) to 6,840.51; and the Nasdaq Composite rose 30.58 points (0.13%) to 23,576.49.

The Fed began its two-day policy meeting on December 9th, with widespread expectations that the central bank would cut interest rates by 0.25 percentage points, even though inflation remains above its 2% target. Fed policymakers are sending mixed signals: some warn that price pressures could rise again, while others worry about a weakening labor market.

The US Department of Labor report did not provide the market with any clearer signals: the number of job openings in October 2025 increased slightly, but the number of new hires did not improve significantly.

Another report from the National Federation of Independent Businesses (NFIB) indicates that businesses intend to hire more workers in the near future.

According to CME's FedWatch tool, the market is still betting on an 87% chance that the Fed will cut interest rates by 0.25 percentage points at its December 10 meeting. However, Jeff Schulze, Director of Economic and Market Strategy at ClearBridge, suggests that investors are expecting "a higher probability that the Fed will pause after this cut."

Furthermore, the continued rise in US Treasury yields is putting pressure on stocks. Justin Bergner, a portfolio manager at Gabelli Funds, shared that this is slowing the market's upward momentum ahead of the Fed's interest rate decision. The yield on 10-year US Treasury bonds rose to 4.18%, marking a four-session winning streak.

After initially rising nearly 1%, the S&P 500 banking sector index reversed course and fell 2% due to concerns about JPMorgan's future costs. Marianne Lake, head of consumer and community banking at JPMorgan, said the bank expects costs in 2026 to rise to around $105 billion due to growth and operating expenses. JPMorgan shares fell 4.7%, their sharpest decline since April 4.

Technology stocks experienced significant volatility. US President Donald Trump announced he would allow Nvidia to export its H200 AI chips to China with a 25% tariff. However, The Financial Times reported that China might restrict access to these chips, while the US opposition criticized the decision.

Investors are also awaiting earnings results from Oracle and Broadcom this week, which are expected to impact spending expectations for AI infrastructure.

In the Vietnamese market, on the afternoon of December 9th, the VN-Index fell 6.57 points, or 0.37%, to 1,747.17 points. The HNX-Index fell 1.54 points, or 0.6%, to 257.14 points.

Source: https://baotintuc.vn/kinh-te/pho-wall-bien-dong-trai-chieu-truc-them-quyet-sach-cua-fed-20251210072052781.htm