Yahoo Finance

Key Takeaways

• U.S. equities gained at midday ahead of what's expected to be the announcement of another interest rate cut from the Federal Reserve.

• Nvidia shares rebounded from recent losses on a positive report about its production.

• Shares of food manufacturers slumped when General Mills cut its full-year outlook.

U.S. equities were higher at midday as the market awaited the anticipated Federal Reserve decision to reduce interest rates again. The Dow Jones Industrial Average, S&P 500, and Nasdaq all advanced.

Jabil (JBL) was the best-performing stock in the S&P 500 when the circuit board manufacturer reported better-than-anticipated results and raised its outlook on the heels of a restructuring plan it announced last quarter.

Shares of Nvidia (NVDA) bounced back from their recent selloff following a report that gave an optimistic outlook about the chipmaker's production, especially of its Blackwell NVL / GB200 system.

Boeing (BA) shares climbed when the plane maker said it had resumed full production of aircraft following the shutdowns caused by a machinists' strike earlier this year.

General Mills (GIS) shares declined when the cereal maker lowered its full-year guidance because of price cuts. That news created a ripple effect across the food industry, with shares of Campbell's (CPB), Kraft Heinz (KHC), and Hormel (HRL) among those declining.

Shares of Newmont (NEM) and rival gold miners fell along with the price of the precious metal on concerns the Fed will pull back on its rate cuts in the new year.

Oil futures gained. The yield on the 10-year Treasury note was flat. The U.S. dollar rose against the euro, pound, and yen. Bitcoin fell to below $105,000. 

Read the original article on Investopedia